AusLeisure

The China Capital Investment Group has bought Queensland’s Daydream Island Resort for around $30 million.

With the low dollar and strong growth in the Chinese inbound market, the sale price is less than half of the Island's original $65 million asking price.

Sale of the resort, which features a 4.5-star 296-room­resort built by Nature’s Own founder Vaughan Bullivant, follows the sale of Lindeman Island to Chinese buyers, Whitehorse in 2012.

The annual turnover of the resort is estimated at $27 million.

Bullivant paid $25 million for Daydream in 2000 and spent nearly $50 million on ugrading the resort. The resort was established by Sea World founder Keith Williams.

Chinese interests have bought two Auckland islands linked to the mainland in a $41.5 million deal.

China's Rainbow Holdings NZ has aquired Pararekau Island and Kopuahingahinga/Lee Island and now plan the development of a $130.6 million six-star luxury resort and native reserve.

20th October 2011 - SEA WORLD FOUNDER KEITH WILLIAMS DIES

1st February 2011 - CYCLONE YASI FORCES WHITSUNDAY RESORT EVACUATIONS

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