A subsidiary of hospitality and leisure company Minor International, that recently acquired the Oaks Group of Hotels & Resorts, has signed a sales contract to acquire the landmark Grand Hotel at Gladstone in Queensland.
Minor Hotel Group chief operating officer Dillip Rajakarier said the company was “delighted” to have been successful in its bid to acquire the hotel.
“With the property’s rich history and leading reputation for hospitality, we have a strong foundation from which to build and drive the Grand Hotel to even greater successes,” he said. “We have every confidence in the team, in Gladstone’s future, and look forward to ensuring that The Grand remains the venue of choice for, and a cornerstone of, the Gladstone community.”
Craig Harley of CBRE Hotels recently listed the hotel for sale under instructions from receivers and managers, Guy Edwards, Darryl Kirk and Paul Kirk of PricewaterhouseCoopers.
Mr Harley said the sale campaign had generated unprecedented interest with the property representing one of the most sought after Australian pub offerings this year given the strong growth forecasts for Gladstone.
(Source: Accomnews 4th July 2011)
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