Situated on the beachfront of Wailoaloa Beach near Nadi, five-star Fijian resort Pullman Nadi Bay is being offered on the market for the first time.
The property is being sold exclusively by Colliers International in conjunction with local agents My Island Home Fiji.
The brand new resort managed by Accor boasts 236 guest rooms, with five restaurants and bar, multiple conference facilities which can cater up to 1,000 delegates, three swimming pools and a world-class health spa.
Additionally, it is the closest five-star hotel to the airport and is just minutes to the Nadi town centre and Port Denarau.
“The owners of the resort, who are a large and established Fiji-based family, have spent the last four years developing the hotel. However, they have decided to sell this marquee asset now to capitalise on Fiji’s strong tourism sector and a global investment market hungry for high-quality, high-yielding hospitality assets,” said Dean Humphries, national director of hotels for New Zealand and the South Pacific, Colliers.
“Fiji has seen stable governance now for 15 years, with the last democratic elections taking place in November 2018. Economic growth over the period has been strong with a significant amount of infrastructure completed including a FJ$100m plus upgrade of the Nadi International Airport.”
Richard Kirke, international sales director of Colliers International’s Capitals Markets team is confident the property will attract many international investors due to its strong growth profile and the attractive returns Fiji produces.
“In the recent past we have seen a range of institutions, sovereign wealth and private equity funds investing heavily into tourism hotspots such as Maldives, Thailand, Vietnam, Tahiti and the eastern seaboard of Australia,” said Kirke.
“Fiji as a prime tourism destination ticks all the boxes and is a country we believe will interest many of these parties.”
Gus Moors, Head of Hotels for Colliers International Australia, said Fiji also has a highly attractive exchange rate at just 0.46 against the USD and 0.66 AUD.
“Fiji has always been the star performer in the South Pacific basin, accounting for 41 percent of all international visitors in the region,” said Moors.
“Inbound arrivals for the year ending 2018 reached 870,000, representing an annual growth rate of 5.6 percent since 2014. The key markets segments are Australians (43 percent), New Zealanders (22 percent) and the United States (10 percent). It is forecast Fiji will reach 1 million international tourists by 2023. The Fijian Government has estimated the tourism industry to be a FJ$2 billion industry by the end of 2020.”