Shakespeare Property Group has purchased the Novotel Twin Waters Resort
Staff reporterSeptember 25, 2018
The Shakespeare Property Group has settled the $100 million purchase of the Novotel Twin Waters Resort on Queensland’s Sunshine Coast from the Abacus Property Group.
This is Shakespeare's fifth major hotel acquisition bringing their total room stock to more than 1,200 rooms, this includes two other hotels managed by AccorHotels – Pullman Cairns International and Novotel Oasis Resort Cairns.
Located between the Maroochy River and Mudjimba Beach, the Novotel Twin Waters Resort site (pictured above) is set on a 36 hectare holding comprised of the low-rise resort with 361 hotel rooms.
Shakespeare have stated that their current aim is to improve the current facilities to position the resort as a "leading" business events venue and leisure resort in Queensland.
Matt Young, Vice President of Operations for AccorHotels in Queensland and Northern Territory said that AccorHotels is proud to strengthen its business partnership with Shakespeare Group.
The $100 million purchase of the resort comes right as construction of tourism infrastructure on the Sunshine Coast has picked up including the new runway and terminal facilities being developed for Sunshine Coast Airport and two new 5-star hotels approved over the past six months.
