Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Resort Not for Sale; Economic Climate ,Cynot Right'

Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Resort Not for Sale; Economic Climate ,Cynot Right'

Article excerpt

Stephen

O'Grady

stephen.ogrady@frasercoastchronicle.com.au

FIGURING OUT KINGFISHER

Resort opened on Fraser's protected western coast in the early 1990s

Its estimated annual revenue is about $50m

Eurong Beach Resort became part of Kingfisher in 2002

Kingfisher Eco Resort includes 152 rooms, four restaurants and bars and a shopping village

EIGHT months after a Fraser Island icon went on the market, the sale of the century is off.

The prevailing economic climate has forced the owners of Kingfisher Bay Resort to take the tourism hotspot off the market.

"The market wasn't right for a sale, so the decision was made to take the resort off the market," a Kingfisher spokesperson said yesterday.

"It's business as usual."

Plans to sell Kingfisher were unveiled in March after Cosmos Australia, a Japanese business partner in the resort's ownership, decided to withdraw from its offshore interests to focus on domestic operations. …

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