Marriott Vacation Club Completes Sale of Surfers Paradise Marriott Resort & Spa
Thursday, May 26, 2016
Just announced, Marriott Vacation Club closed on the purchase of the hotel portion of Surfers Paradise Marriott Resort & Spa in Queensland, Australia. The 216 rooms and resort amenities were sold to Bensonlily Surfers Paradise Pty Ltd for $50 million USD.
Marriott Vacation Club first purchased the Surfers Paradise Marriott Resort & Spa in July of 2015 and is working to renovate eight floors of the property into 88 deluxe timeshare rooms and one- and two-bedroom suites.
Resort amenities will be shared between Marriott Vacation Club at Surfers Paradise and the Surfers Paradise Marriott Resort & Spa. These amenities include a full service spa, fitness center, and four on-site dining options. Marriott International will operate the resort property in accordance to a long-term management agreement.
“We’re truly excited to have Marriott Vacation Club at Surfers Paradise in our portfolio of amazing destinations,” said Stephen P. Weisz, president and chief executive officer of Marriott Vacations Worldwide. “The sale completes our capital efficient transaction and we will look to re-invest the proceeds to add more exciting new destinations in our Asia Pacific portfolio. We look forward to sharing this beautiful resort with the hotel’s new owner at this prime location on the Gold Coast.”
Perfectly located on Australia’s Gold Coast, guests will enjoy warm sunny weather year-round and easy access to shops, restaurants, surf beaches, national parks, entertainment districts, and other impressive attractions.
Learn more about Marriott Vacation Club by visiting their website.
