Sheraton Mirage Gold Coast sale mystery
It appears media reports that billionaire Tony Fung has purchased the Sheraton Mirage Gold Coast for $160 million are premature.
“Pearls Australasia, owner of Sheraton Mirage Resort and Spa Gold Coast, has not confirmed the sale of the resort and continues to consider perspective owners via sales agency, McVay Real Estate, as reported today in the media,” came the ensuing media statement.
“An announcement will be made by the owning company once a sale agreement has been settled in full."
“The recently refurbished Sheraton Mirage Resort and Spa has been managed as a Sheraton branded resort for 27 years, and a long term management contract is in place with Starwood Hotels and Resorts Asia Pacific Pty Ltd to operate the resort as a Sheraton into the future,” the statement to website hotelmanagement.com.au said.
The Australian said Fung revealed to the publication “his vision to develop the five-star beachfront Sheraton Mirage and Marina Mirage into an integrated casino resort precinct”.
Fung is also busy proposing to develop the Aquis Great Barrier Reef casino resort near Cairns.
Pearls Australasia had been expected to fetch around double the $62.5 million the company paid for the property in 2009.