Zagame Corporation is hoping to sell its Grand Hotel & Casino resort in Vanuatu for US$25m.
The eight-story, 74 room waterfront hotel overlooks Port Vila Harbour and Iririki Island. It includes a restaurant, four bars, conference rooms, and a pool whilst the casino boasts 136 slot machines, 15 gaming tables, and afloor VIP gaming room.
Rob Cross of CBRE Hotels in charge of the sale said: “We’re expecting considerable interest, predominantly from Australian and New Zealand investors. The campaign provides an opportunity to acquire the best hotel and casino in Vanuatu, which is currently owner operated but is being offered with vacant possession. While the hotel and casino has enjoyed trading growth in recent years, the introduction of a professional management company with a strong brand reputation could lead to further trading upside.”
Vanuatu is a South Pacific Ocean nation made up of roughly 80 islands.