Colliers International in conjunction with the local agents My Fiji Home has been exclusively appointed to sell the Pullman Nadi Bay Resort and Spa Fiji by way of an international expressions of interest campaign.

The marquee resort boasts 236 beautifully appointed guest rooms, five restaurants and bars, multiple conference facilities, three swimming pools and a world-class health spa.

Pullman Nadi Bay opened in May 2019, in time for the busy Fijian winter period, and is managed by global hotel operator Accor Hospitality – the largest operator in Asia Pacific.

Nestled on 5.7ha of prime beachfront land, on the foreshore of Wailoaloa Beach, it is ideally situated to take advantage of Fiji’s ongoing tourism boom, being the closest five-star hotel to the recently upgraded Nadi International Airport.

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Dean Humphries, Colliers’ National Director of Hotels for New Zealand and the South Pacific, acknowledges it is rare for a brand-new resort be offered to the market so soon after opening.

“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.”

Click here to view the full listing on The Hotel Page.

“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.”

“We have seen an increasing amount of global capital flow through to the tourism sector in recent years given its attractive returns and strong growth profile.”

Richard Kirke, International Sales Director of Colliers International’s Capitals Markets team, is confident a large number of international investors will be attracted to investing in Fiji due to the strong growth profile and attractive underlying returns this country offers.

Kirke says that with hotel assets in most developed countries now demanding historically low yields, investors are searching for locations that can provide attractive returns and a strong growth profile.

“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.”

“Fiji as a prime tourism destination ticks all the boxes and is a country we believe will interest many of these parties.”

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Gus Moors, Head of Hotels for Colliers International Australia, says 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% of all international visitors in the region.”

“Inbound arrivals for the year ending 2018 reached 870,000, representing an annual growth rate of 5.6% since 2014. The key markets segments are Australians (43 per cent), New Zealanders (22 per cent) and the United States (10 per cent). 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.”

Click here to view the full listing on The Hotel Page.

Humphries notes that Pullman Nadi Bay is ideally located to take advantage of all of the above macro and micro aspects of the global tourism boom and strong Fijian fundamentals.

He points to the key attributes Pullman Nadi Bay offers to potential investors, summarised below:

Macro Factors

• Global tourism boom: Some 1.4 billion people travelled the world in 2018, well above forecast levels
• Fiji is the strongest tourism destination in the South Pacific, estimated to reach 1 million visitors by 2023
• Stable economy and attractive exchange rate
• Attractive investment yields/returns (leveraged yield/IRR 12 per cent to 20 per cent)

Pullman Nadi Bay Resort and Spa

• Accessibility: It is the closet five-star hotel to the airport and just minutes to Nadi town centre and Port Denarau
• Strategic location on 5.78 hectares of land including 220m of prime beachfront on Wailoaloa Beach with a westerly aspect
• Brand new five-star hotel with 236 rooms, five restaurants and bars, three conferencing rooms for up to 1,000 delegates, health spa, and three swimming pools
• Optimal design with all guest rooms enjoying charming views of Wailoaloa beach and in close proximity to all the resort’s amenities
• Managed by global hotel operator Accor Hospitality, the largest hotel operator in the Asia Pacific region
• Tenure: Crown lease with ground rental linked to hotel performance
• Proximity to labour/resources: Close to Nadi, the second largest urban population in Fiji, allowing for a large labour pool and access to a wider range of products and services
• Surplus land (circa 1.9ha) consented for future expansion

Click here to view the full listing on The Hotel Page.

The hotel is being sold through Colliers International and local agents My Island Home Fiji by way of international expressions of interest closing at 4pm (NZST) on Wednesday 31 July.

This is a Feature Property booking.

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