South West Pacific Investments, which owns the casino resort are now to divest their ownership in the land and buildings. However, IHG will continue to manage the property according to a release by Pacific Advisory.
In a statement to the press, Glen Craig, the managing partner of Pacific Advisory, said: “We are honored to act for the vendors as exclusive advisors on this transaction. We infrequently have opportunities for investors to buy a large profitable resort in the South Pacific so this represents a rare opportunity.
It has significant upside with much of the 18.5 hectares ideal for future development. The operating casino is a large attraction as well for those investors wishing to target the growing gaming market.”
The casino resort hosts 157 rooms and sits on an 18.5-hectare land. The gambling facility also features 10 waterfront bungalows and two swimming pools, a nine-hole golf course, two restaurants, two tennis courts, a café, and several bars.
The price of the property is yet to be revealed. Vanuatu being a top tourist destination in the Pacific, it is expected that the casino resort will draw the attention of several top investors.
The Holiday Inn Resort and Casino also has a connected private island which adds to its aesthetic and touristic value.