Clive Palmer buys Hyatt Coolum

Hyatt Regency Coolum has been bought by Queensland's richest man Clive Palmer

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QUEENSLAND'S best known mining figure Clive Palmer has bought the Hyatt Regency Coolum Resort from Lend Lease and Sekisui House Australia.

The figure has not yet been released but in a statement released earlier today Mr Palmer said the buy gave him an opportunity to make a contribution to Queensland’s tourism sector, which had been struggling as a result of the economic downturn.

“The Hyatt Regency is one of the state’s leading resorts and has a rich history,” Mr Palmer said.

“Major celebrities such as Mick Jagger and U2 have been guests there, while this year the Queensland State of Origin rugby league team have held their pre-match camps at the Hyatt Regency.

“The renowned resort championship golf course each November plays hosts to one of the nation’s most successful sporting events, the Australian PGA golf tournament.

“We have plans to increase the occupancy of the Hyatt Regency and make it one of the best resorts in the world.”

Hyatt Regency Coolum offers 2km of absolute beach frontage and 150 hectares of natural bushland.

Hyatt Regency Coolum features 324 hotel rooms, suites and villas organised in low-rise clusters amid a natural Australian environment of gardens, lakes and woodlands.

“Given its premium beachside resort amenities and close proximity to the Sunshine Coast Airport,  I see enormous scope to build on Hyatt Regency Coolum’s already very strong appeal,’’ Mr Palmer said.

The purchase of the Hyatt Regency is Mr Palmer’s first major tourism venture.

However, it was announced in April 2010 that Queensland Nickel -- a firm acquired by Mr Palmer -- purchased the site of the former Avica Spa and Resort on the Gold Coast.

The Hyatt will remain manager of the resort under its existing long term contract while Lend Lease and Sekisui House,  Japan’s largest builder of premium homes, will focus on creating a world class master planned beachfront residential community at Hyatt Coolum.

Mr Palmer said he was committed to the success of Hyatt Regency Coolum Resort and the Hyatt Coolum residential community.