IN­TER­EST SPIKES IN PEPPERS

Whitsunday Times - - FRONT PAGE - Ja­cob Wil­son ja­cob.wil­son@whit­sun­day­times.com.au

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.

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