The famous Kimberley cattle station come tourist resort, El Questro, is up for sale as owners GPT Group sell up $900 million worth of its investments.
According to the Australian Financial Review, the GPT Group plans to sell its portfolio of tourism assets, including Ayers Rock Resort, the Four Points by Sheraton Hotel, Sydney, and the Voyages Lodges portfolio of eco resorts, which includes El Questro.
GPT reportedly paid $17 million for El Questro three years ago.
On Friday GPT informed the Australian Stock Exchange that it expected significantly lower than forecast earnings this year, primarily due to the global credit crisis.
For the year to December 31 it expects income of $464m, down from earlier forecasts of $633m.
Email a friend