MELBOURNE'S Zagame Corporation is moving to sell Vanuatu's Grand Hotel & Casino at Port Vila to capitalise on surging buyer interest in leisure oriented accommodation assets.
The 74-room waterfront property is the premier hotel and casino venue in Vanuatu.
Situated 10km from the airport at the heart of Port Vila's business and entertainment precinct, the eight-level waterfront hotel offers a variety of income streams from its casino, accommodation and food & beverage facilities.
CBRE Hotels' Rob Cross and Andrew Jackson will steer the expressions of interest campaign, which closes on May 30, 2017.
Mr Cross said long time owners Zagame Corporation were selling the hotel and casino complex to focus on their extensive pub and accommodation interests in Australia.
"We're expecting considerable interest, predominantly from Australian and New Zealand investors," Mr Cross said.
"The campaign provides an opportunity to acquire the best hotel and casino in Vanuatu, which is currently owner operated but is being offered with vacant possession. While the hotel and casino has enjoyed trading growth in recent years, the introduction of a professional management company with a strong brand reputation could lead to further trading upside."