Qld: New owners to upgrade island resort

AAP General News (Australia)
12-13-2006
Qld: New owners to upgrade island resort

BRISBANE, Dec 13 AAP - Mercure Resort on Queensland's Great Keppel Island will undergo
a multi-million dollar upgrade following its sale to Sydney-based investment group Tower
Holdings.

The resort, which was previously owned by private investors who sold it for an undisclosed
price, is located off Yeppoon on the central Queensland coast.

Tower Holdings chief executive Terry Agnew said the company planned to make a substantial
investment in the resort and its facilities.

"We are long-term investors and aim to provide a stable ownership period," Mr Agnew said.

"We have also purchased the nearby underwater observatory and plan to operate tours
from the resort."

The resort, presently managed as part of the Accor network, will operate as a stand
alone property known as Great Keppel Island Resort under a new management structure from
February 1, 2007.

Its general manager will be Anthony Cleary, who previously managed Hamilton Island's
Beach Club and was chairman of Tourism Whitsundays.

AAP pjo/jm/bwl

KEYWORD: KEPPEL

2006 AAP Information Services Pty Limited (AAP) or its Licensors.