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The 200-room Palazzo Versace, developed by Gold Coast-based Sunland Group (ASX: SDG) in 2000, is owned by Chinese-backed Dong Run Group which acquired the property for .5 million in 2012. |. An iconic Gold Coast hotel is getting a new name after it was revealed luxury fashion house Versace decided not to renew its branding agreement. The Palazzo Versace .
Star Entertainment Group and its partners, Far East Consortium and Chow Tai Fook, last year sold the neighbouring Sheraton Grand Mirage for 2m to Pub mogul Arthur Laundy and his . The Gold Coast ’s iconic Palazzo Versace will be no more after the Italian fashion giant decided to withdraw from the branding agreement with the hotel. “After lengthy .
The 200-room Palazzo Versace, developed by Gold Coast-based Sunland Group (ASX: SDG) in 2000, is owned by Chinese-backed Dong Run Group which acquired the property for .5 million in 2012. |. An iconic Gold Coast hotel is getting a new name after it was revealed luxury fashion house Versace decided not to renew its branding agreement. The Palazzo Versace hotel will become The Imperial Palace and operate as an independent hotel from August 1.
Star Entertainment Group and its partners, Far East Consortium and Chow Tai Fook, last year sold the neighbouring Sheraton Grand Mirage for 2m to Pub mogul Arthur Laundy and his long-term business partner, Sydney’s Karedis family. The Gold Coast ’s iconic Palazzo Versace will be no more after the Italian fashion giant decided to withdraw from the branding agreement with the hotel. “After lengthy discussions, Versace has made the strategic decision to pull out of the Australian hospitality market,” the owners of the hotel said in a statement on Tuesday.
Now, owners of the Palazzo Versace hotel have confirmed the fashion house is parting ways with the luxury hotel, with the agreement set to end on the 31st of July 2023.
The Melbourne-based property group is said to have an exclusive deal in place to purchase the Palazzo for 4 million. The hotel, which opened in 2000, describes itself as a 6-star resort and has attracted many celebrities such as U2’s Bono, Snoop Dogg, Beyonce and Jay Z.Two Chinese companies have entered a joint venture deal to acquire the stunning Palazzo Versace Hotel on the Gold Coast. $A 80 million was the original price tag on the luxurious hotel, but the two companies snapped up the hotel for a bargain price of $A68.5 million.In 2005, Emirates International Holdings acquired 50% of Palazzo Versace Gold Coast at the same time entering into a joint venture to develop a chain of hotels including a similar hotel in Dubai. Con, who owns a Palazzo Versace penthouse, moved his HQ to Brisbane three years ago, with a satellite office on the Gold Coast.
The Islander Hotel Accommodation Unit Trust, which owns the property, still holds the business name Palazzo Versace and the web domain palazzoversace.com.au.
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The 200-room Palazzo Versace, developed by Gold Coast-based Sunland Group (ASX: SDG) in 2000, is owned by Chinese-backed Dong Run Group which acquired the property for .5 million in 2012. |. An iconic Gold Coast hotel is getting a new name after it was revealed luxury fashion house Versace decided not to renew its branding agreement. The Palazzo Versace hotel will become The Imperial Palace and operate as an independent hotel from August 1.
Star Entertainment Group and its partners, Far East Consortium and Chow Tai Fook, last year sold the neighbouring Sheraton Grand Mirage for 2m to Pub mogul Arthur Laundy and his long-term business partner, Sydney’s Karedis family. The Gold Coast ’s iconic Palazzo Versace will be no more after the Italian fashion giant decided to withdraw from the branding agreement with the hotel. “After lengthy discussions, Versace has made the strategic decision to pull out of the Australian hospitality market,” the owners of the hotel said in a statement on Tuesday. Now, owners of the Palazzo Versace hotel have confirmed the fashion house is parting ways with the luxury hotel, with the agreement set to end on the 31st of July 2023.
The Melbourne-based property group is said to have an exclusive deal in place to purchase the Palazzo for 4 million. The hotel, which opened in 2000, describes itself as a 6-star resort and has attracted many celebrities such as U2’s Bono, Snoop Dogg, Beyonce and Jay Z.
Two Chinese companies have entered a joint venture deal to acquire the stunning Palazzo Versace Hotel on the Gold Coast. $A 80 million was the original price tag on the luxurious hotel, but the two companies snapped up the hotel for a bargain price of $A68.5 million.In 2005, Emirates International Holdings acquired 50% of Palazzo Versace Gold Coast at the same time entering into a joint venture to develop a chain of hotels including a similar hotel in Dubai. Con, who owns a Palazzo Versace penthouse, moved his HQ to Brisbane three years ago, with a satellite office on the Gold Coast.
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