Dreamworld dreams up new $75m resort

Dreamworld dreams up new $75m resort

Plans are underway for a new $75 million Dreamworld resort, including a hotel and tourist park, enabling guests of the Gold Coast-based theme park to "stay and play".

Announced today, just two weeks after the appointment of a new theme parks CEO, Ardent Leisure-owned (ASX: ALG) Dreamworld has entered into an agreement with accommodation developer Evolution Group to build the resort on land adjacent to the existing theme park.

The accommodation offering will include a 4-star 250 room resort-style hotel, 40 bungalows and a 5-star tourist park with 100 powered sites.

Ardent Leisure hopes the current boom in domestic tourism will continue and is designing the resort's amenities around families travelling interstate to visit the park. Restaurants, conference facilities, swimming pools and a gymnasium are all part of the resort's planned comforts.

Guests of Dreamland Resort will also have exclusive offers to access the Dreamworld and WhiteWater World theme parks throughout their stay.

The agreement is currently non-binding and subject to the satisfaction of a number of preconditions, however Ardent Leisure says it is optimistic that final terms for the project will be agreed in the near future.

Ardent and Evolution Group, led by John Robinson Jr, the son of prominent developer John 'Foxy' Robinson, are currently working together with local and Queensland Government authorities to obtain the requisite planning approvals.

"The hotel and tourist park will complement Dreamworld as a premium entertainment destination and add a new level of convenience for guests who will have our theme park and water park on their accommodation's doorstep" recently appointed Dreamworld CEO Greg Yong said.

"This announcement is another positive step in the recovery of our parks post-COVID and will have a significant economic impact not only for Dreamworld, but also for the northern Gold Coast, one of Australia's fastest growing regional corridors.

"The project will create employment within the local community and contribute to the regeneration of tourism on the Gold Coast."

John Robinson Jr said he was thrilled to partner with Dreamworld on the major development.

"We are incredibly excited to be taking these first steps with the Dreamworld team and we are looking forward to working collaboratively to deliver guests a range of high-quality accommodation options," John Robinson Jr said.

"The Evolution Group team is a family company providing over 2,200 rooms around Australia through our resorts and accommodation houses.

"Having Australia's favourite theme park on the doorstep of this development will certainly provide guests with action-packed getaways."

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