Hayman Island sale annoucement tipped for next week

Sol Kerzner's international hotel group Kerzner International is expected to make an announcement on its rumoured acquisition of Hayman Island in the Whitsundays next week.

Reports emerged yesterday in The Australian Financial Review that the South African hotel billioniare was in talks to buy Hayman Island from Malaysian investment group Mulpha Australia.

A source close to the international hotel group told Property Observer that an announcement would be made next week, possibly on Wednesday.

Kerzner International declined to comment on the speculation.

It was reported that top federal and state tourism bureaucrats were meeting with Kerzner International executives in the coming weeks and that once a deal was completed, Kerzner would close the island from January next year to complete three months of further renovations.

Mulpha Australia purchased the Hayman in 2004.