KOORALBYN RESORT SETTLED

Yong Real Estate founder brought forward the settlement of the iconic Kooralbyn Resort from the original settlement date of 19 September 2014 and successfully settled on 2 June 2014.

The resort will be branded as the Ramada Kooralbyn Resort. Ramada is the prestige brand of the Wyndham Hotel Group which is the largest hotel chain in the world with around 7500 hotels in the network including 900 in China. The completion value will be around $1 billion including fully serviced retirement accommodations and .future town centre etc.

The Kooralbyn Resort was originally built by two Sydney knights, Peter Abels & George Arthurs in 1973 as a private holiday destination for the rich and famous. The resort was sold through Westpac’s subsidiary to a Japenese hotel group in 1988. In 2002, it was subsequently sold to a New Zealand hotel operator, Ray Schofield. The total investment by the previous three owners or its current replacement value is estimated at around $300 million.

Peter Huang purchased the resort from the receiver for an undisclosed sum due to the confidentiality agreement between the parties. Mr. Huang is aiming to revitalise the Kooralbyn Resort to restore it to its former glory and offer a variety of accommodation options to suit the rich and famous and budget-conscious holidaymakers. He plans to make it the world’s first and only integrated eco-tourism, health, and wellness retreat incorporating sky diving, hot air ballooning, gliding, potential charter flights through the resort’s private airport as well as the championship golf course, polo field plus much more. The longest-standing richest Australian, Kerry Packer, used to fly his whole polo team from Sydney to play regularly at the Kooralbyn.

There are many other entertainment areas to be added including sheep shearing, the Garden of Eden incorporating the vineyard, the flower farm, fruit farm, vege farm as well as a native Australian animal experience including Koalas, Kangaroos, Crocodiles, and Native Australian birds as well as gold panning plus many other multiple sports centres including beach volleyball, basketball, netball, table tennis, badminton, football, soccer, cricket, yoga, Tai Chi, sport fishing and water activities and more.

The Kooralbyn Resort also hosts the world-famous Kooralbyn International School which is the only school in Australia to have produced two young Australians of the Year. Cathy Freeman, World No. 1 Golfer Adam Scott and No. 4 Golfer Jason Day as well as Scientist Scott Hocknell all graduated from the Kooralbyn International School.

Mr. Huang’s vision is to make this resort a well known international destination for both domestic and international tourists as well as international students based on his motto of 4-star price and 6-star service. This resort was previously a 5-star resort and was Australia’s first integrated tourism resort.