ILSC appoints Gilbert + Tobin to assess Voyagers resort sale

The famed resort bought for $300m, could change hands with the Indigenous Land and Sea Corporation reviewing sale options of the site.

The Ayers Rock Resort at Uuru in the Northern Territory.

The Indigenous-owned Voyages Indigenous Tourism Australia, operators of the Ayers Rock Resort at Yulara in the Red Centre, have started assessing future options for the world renowned holding which could see it sold to the private sector.

The resort, which encompasses six sprawling accommodation hubs in the shadow of the rock, including a five star resort, three and four star hotels and a campground, has been hampered by a lack of flights since Covid given Virgin is not set to recommence flights until mid year.

According to a statement from the Indigenous Land and Sea Corporation (ILSC) which controls Voyages the key objective is to fulfil its statutory obligations of returning land to First Nations peoples, and in doing so, create Indigenous benefit for Traditional Owners, and local, regional, and national First Nations peoples.

ILSC has appointed Gilbert + Tobin and Greenhill to assist with the assessment process, including understanding market interest in the Ayers Rock Resort operations.

With this objective in mind, the assessment is focused on exploring potential alternative ownership options for the operations at Ayers Rock Resort.

The ILSC purchased the asset from property company GPT Group in 2011 in one of the largest sales in the hotel sector in a deal worth around $300m.

Voyages Ayers Rock Resort

Back in 2013, the owners of the Ayers Rock Resort wrote down the book value of the resort by $62m after admitting that it faced serious financial challenges and high-profile business figures departed the board.

Prior to Covid-19, about 300,000 people visited Uluru annually via 43 direct flights into Uluru from major capital cities. Annual pre-Covid revenue was between $170-200m, with the resorts enjoying hotel occupancies of more than 85 per cent.

Voyages chief executive Matt Cameron-Smith, who runs the company’s hotels and one camping ground could not be reached for comment on Thursday night.

However, in a prepared statement Mr Cameron-Smith said it was business as usual for the Voyages team which has been offering heavy discounts of late. “Our pipeline of bookings in 2024 and beyond is growing, and we are excited to build on our strong momentum at Ayers Rock Resort, particularly as domestic and international tourism continues to rebound toward pre COVID-19 levels,” Mr Cameron-Smith said.

Ayers Rock Resort has won awards for "Best Tourism Initiative". Picture: Tourism NT

Although British and North American tourists have returned to Uluru at about 70 per cent of pre-Covid-19 ­levels, Japanese visitors are yet to ­return.

Mossman Gorge Cultural Centre, also owned by Voyages, is not part of the review.

At this stage, there is no certainty as to what the ultimate outcome of the assessment will be, according to the statement from ILSC.

The assessment process involves ongoing consultation and engagement with the local First Nations peoples to understand their aspirations and in particular who should benefit from the land divestment process and how those benefits are to flow.

Visitors began climbing Uluru in the late 1930s and in the lead-up to the rock’s closure on October 26, 2019, the Voyages-owned hotels and campgrounds were full to capacity, mainly occupied by Japanese tourists clamouring to climb Uluru in a final rush before it was closed due to the local Anangu people, who had long asked visitors not to climb the ­sacred site.

Originally published as ILSC appoints Gilbert + Tobin to assess Voyagers resort sale