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Sydney hotelier Glenn Piper has snatched up his third hospitality asset in recent months after acquiring Hook Island Lodge for an undisclosed amount today.
Situated in the heart of Whitsundays, the 58 square kilometre island will be transformed into “a world-class hospitality experience” according to the Meridian Australia CEO and founder.
The acquisition follows Piper’s recent purchase of Newcastle’s Beach Hotel in Merewether and the leasehold of Q Station Hotel on Sydney’s North Head. While a sale price has not been disclosed, the broker of the transaction confirmed that price expectations during the marketing campaign were between $10 million to $12 million.
“The Whitsundays is one of the most naturally stunning and diverse tourism destinations in the world and we are thrilled to secure a landmark position in the heart of it on Hook Island,” Piper said.
“There’s nothing quite like it. Very few locations in the world can offer this level of natural wonder.
“I want to create an experience that befits the beauty of the island and the Whitsundays - respectfully and sustainably.”
Known as one of Whitsunday's crown jewels, Hook Island offers unhindered landscapes of Hook Passage and the Great Barrier Reef. On the south-eastern side of the island is an exclusive 9.3-hectare site that serves as an entryway to two private beaches.
The popular destination was devastated by cyclones in 2011 and 2017 but was cleaned up by Queensland businessman Glenn Dickson last year in preparation for a fresh start.
CBRE Hotels Director Tom Gibson said the island received more than 150 investor enquiries, which included “major international F&B players, as well as ultra-high net worth individuals.”
“The fact that Hook Island Lodge went under offer in the very first week of a public expressions of interest process, highlights the confidence experienced operators have in our tourism market.
“Queensland, and more specifically the Whitsunday Islands, has witnessed record hospitality and tourism investment in recent years, marking it as one of the most resilient markets through the pandemic and positioning it perfectly to capture to resurgent international inbound market.”
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