Iconic K’gari resorts, Captain Cook Cruises to change hands for $146m

Some of Australia’s most iconic holiday experiences, including two major resorts on Queensland’s world-famous K’gari, are set to change hands in a massive $146m deal. New York private equity-backed tourism operator, Journey Beyond, is poised to take control of Kelsian Group’s sprawling tourism portfolio after the transaction cleared two major regulatory hurdles. K’gari Beach resort on K’gari (Fraser Island) has been sold. The deal has received approval from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, paving the way for a collection of well-known Australian resorts, cruises, tours and ferry operations to move under the Journey Beyond umbrella. Among the biggest prizes are Kingfisher Bay Resort and K’gari Beach Resort on World Heritage-listed K’gari, formerly Fraser Island. Ferry services to the island and K’gari Explorer Tours are also included. The deal will significantly expand the Australian tourism empire controlled by Journey Beyond, which is owned by New York-based private equity firm Crestview Partners. Kingfisher Bay Resort K’gari. Photo: Contributed. Journey Beyond already operates some of Australia’s best-known tourism experi...