Journey Beyond inch closer to$300m Uluru deal with Voyages Indigenous Tourism Australia
A company backed by a New York based private equity firm are set to become the new owners of Uluru’s resort accommodation. Read what we know.
An American-backed company is in “exclusive” discussions to snap up the only accommodation at Uluru to the tune of $300 million, according to new reports.
The operators of the Ghan, Journey Beyond, are seeking to snap up Ayers Rock resort, which is currently operated by Voyages Indigenous Tourism Australia, according to a report in the Australian.
Voyages assets have been on the market for more than a year, with Journey Beyond reportedly set to pay around $300m for the site.
Journey Beyond was contacted for comment, and directed this masthead’s queries to the Indigenous Land and Sea Corporation (ILSC), who oversee Voyages.
An ILSC spokesman confirmed they were in “exclusive” discussions with Journey Beyond for the sale of accommodation in Yulara and the Mossman Gorge Cultural Centre in Far North Queensland.
“Journey Beyond has grown to now be Australia’s leading and largest experiential tourism group and we believe they are the ideal potential partner, that presents us with the best opportunity to deliver on our primary objective – to fulfil our statutory obligations of returning land to Aboriginal and Torres Strait Islander peoples, and in doing so, create benefit for traditional owners at both Yulara and Mossman Gorge Cultural Centre, as well as Indigenous people at a local, regional, and national level,” the spokesman said.
“These discussions are ongoing and at this stage there is no final binding agreement.
“Given the confidential nature of these discussions, we will not be commenting further.”
Previously, Airport Development Group was jostling for the assets, and previously said they wanted to see the Red Centre accommodation “kept in Australian hands”.
An Airport Development Group spokeswoman said the company did not make any comment about the latest development.
Journey Beyond is operated by Crestview Partners, a New York based private equity firm which boasts $10.5 billion in “capital commitments,” according to their website.
Tourism Central Australia chief executive Danial Rochford said the body is keeping an eye on the sale but welcomed the update.
“Journey Beyond is a member of TCA and a strong supporter of Central Australian tourism and we have a positive working relationship with them through their many existing tourism products in Central Australia,” he said.
“We will keep a watching brief as this process moves forward as we appreciate that further discussions are still to be had before a finalisation of sale as well as the importance of Ayers Rock Resort to the Central Australian tourism sector.”
Originally published as Journey Beyond inch closer to$300m Uluru deal with Voyages Indigenous Tourism Australia
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