INTEREST SPIKES IN PEPPERS
CLAIMS that Peppers Airlie Beach has been sold for $20 million are “inaccurate”, according to a representative for US hotel giant Wyndham.
A report in the Australian Financial Review has claimed Wyndham purchased the resort for $20 million, despite market expectations of between $15–17 million for the property.
The report states CBRE Hotels agent Wayne Bunz had confirmed the sale but did not reveal the identity of the buyer.
A Wyndham representative who requested not to be named told the Whitsunday Times nothing had been finalised.
“The article in the Australian Financial Review was inaccurate,” they said.
“The figure offered was not $20 million. It is less than that. Wyndham is in the process of negotiations but at this stage nothing has been resolved.”
The 4.5-star Peppers resort went into receivership in March last year, with the Latitude Development Group handing over the business to McGrath Nichol.
Latitude Development Group developed the iconic business in 2009 at a cost of $80 million.
Prominent celebrities including Holllywood A-list couple Angelina Jolie and Brad Pitt have stayed at the idyllic Whitsunday location in the past.
Peppers Airlie Beach is also home to Tides Restaurant and Bar and Endota Day Spa.