Five-star Pullman Nadi Bay resort in Fiji listed for sale
Fiji’s newest five-star luxury resort, situated on the beachfront of Wailoaloa Beach near Nadi, is being offered to the market for the first time.
Colliers International in conjunction with the local agents My Fiji Home has been appointed to sell the Pullman Nadi Bay Resort and Spa Fiji by way of an international expressions of interest campaign.
The marquee resort boasts 236 guest rooms, five restaurants and bars, multiple conference facilities, three swimming pools and a world-class health spa.
Pullman Nadi Bay opened in May 2019, in time for the busy Fijian winter period, and is managed by global hotel operator Accor Hospitality – the largest operator in Asia Pacific.
Nestled on 5.7ha of prime beachfront land, on the foreshore of Wailoaloa Beach, it is the closest five-star hotel to the recently upgraded Nadi International Airport.
Dean Humphries, Colliers’ National Director of Hotels for New Zealand and the South Pacific, acknowledges it is rare for a brand-new resort be offered to the market so soon after opening.
“The owners of the resort, who are a large and established Fiji-based family, have spent the last four years developing the hotel. However, they have decided to sell this marquee asset now to capitalise on Fiji’s strong tourism sector and a global investment market hungry for high-quality, high-yielding hospitality assets.”
“Fiji has seen stable governance now for 15 years, with the last democratic elections taking place in November 2018. Economic growth over the period has been strong with a significant amount of infrastructure completed including a FJ$100m plus upgrade of the Nadi International Airport.”
“We have seen an increasing amount of global capital flow through to the tourism sector in recent years given its attractive returns and strong growth profile.”
Richard Kirke, International Sales Director of Colliers International’s Capitals Markets team, is confident a large number of international investors will be attracted to investing in Fiji due to the strong growth profile and attractive underlying returns this country offers.
“In the recent past we have seen a range of institutions, sovereign wealth and private equity funds investing heavily into tourism hotspots such as Maldives, Thailand, Vietnam, Tahiti and the eastern seaboard of Australia.”
“Fiji as a prime tourism destination ticks all the boxes and is a country we believe will interest many of these parties.”
Gus Moors, Head of Hotels for Colliers International Australia, says Fiji also has a highly attractive exchange rate at just 0.46 against the USD and 0.66 AUD.
“Fiji has always been the star performer in the South Pacific basin, accounting for 41% of all international visitors in the region.”
“Inbound arrivals for the year ending 2018 reached 870,000, representing an annual growth rate of 5.6% since 2014. The key markets segments are Australians (43 per cent), New Zealanders (22 per cent) and the United States (10 per cent). It is forecast Fiji will reach 1 million international tourists by 2023. The Fijian Government has estimated the tourism industry to be a FJ$2 billion industry by the end of 2020.”
The hotel is being sold through Colliers International and local agents My Island Home Fiji by way of international expressions of interest closing at 4pm (NZST) on Wednesday 31 July.