Paul Darrouzet celebrates owning Coral Sea Marina for 10 years

A Sunshine Coast-based businessman was once a mining magnate making his riches from Queensland’s coal country, but now he’s making gold from the Coral Sea and its opulent visitors.

Paul Darrouzet used to be a mining magnate making his riches from the Bowen Basin’s coal country but now he’s making gold from the sea.

Reportedly a billionaire, Mr Darrouzet is this month celebrating the 10th anniversary of deciding to buy the once run-down Abell Point Marina in the tropical Whitsundays and turn it into a “premium” superyacht destination.

The Sunshine Coast-based investor, who sold his stake in the Foxleigh mine to Anglo Coal in 2007, bought the 500-plus berth facility at Airlie Beach in 2013 for $27 million, later renaming it Coral Sea Marina.

He spent the first 18 months as its new owner pouring 21,000sq m of concrete, creating a new arrival plaza, demolishing buildings, erecting new ones, and dredging the marina to cater for larger vessels.

Coral Sea Marina owner Paul Darrouzet.

Three years in, his marina became the first in Australia to be awarded the 5 Gold Anchor Marina accreditation through the Marina Industry Association.

“The aim throughout the development process has always been to create an entry statement for Airlie Beach, a premium destination for locals, visitors, and tourists and the ‘Monaco of the South Pacific’ for superyachts,” Mr Darrouzet said.

“Undoubtedly a highlight of the decade was the acquisition of neighbouring Coral Sea Resort (in 2018) and the subsequent merger and rebranding of these two Airlie Beach icons to become Coral Sea Marina Resort.”

Coral Sea Marina Resort.

Coral Sea Marina (CSM) Resort owner Paul Darrouzet

Ten years and about $30 million dollars later, CSM is Australia’s most awarded marina and hosts 520 wet berths with berthing to accommodate vessels up to 80m in length.

It has won accolades from Australian Marina of the Year each year from 2017 to 2021 including the Hall of Fame in 2021, plus it won gold at the 2017 Queensland Tourism Awards.

The marina has also attained its Global Gold Anchor Platinum Level accreditation.

Marina Industry Association CEO Suzanne Davies congratulated Mr Darrouzet and CSM CEO Kate Purdie on their decade of achievements.

Coral Sea Resort.

“As one of only three 5 Gold Anchor Platinum Marinas in the country and one of the first to accredit as Superyacht Ready, CSM leaves no stone unturned as it strives to retain its position as one of the country’s most prestigious and well-managed marinas,” Ms Davies said.

“This isn’t just a marina for boat owners, the marina’s outreach and support of philanthropic causes shows that it’s also a crucial part of the local community, and its heavy conservational investments demonstrate it is a champion for the environment.”

CSM has become Australia’s most awarded marina.

In addition to these awards, Mr Darrouzet’s CSM has become an advocate for both the boating community and the environment, including successfully lobbying the government for financial relief for its commercial tourism operators in the wake of the pandemic.

It is also a certified Clean Marina Level III/ Fish Friendly Marina it maintains a strong focus on protecting the marine environment and the Great Barrier Reef, including through its Coral Sea Academy.

“A significant contributing factor to the success of the marina is our people,” Ms Purdie said.

“The marina team is focused on continuous improvement which enables us to provide transformational guest experiences in Australia’s most iconic boating destination.

“The 10-year anniversary celebrations are a chance for us to recognize [sic] Paul’s achievements but also to acknowledge the achievements of the entire team.”