Taisei Kanko sells Cairns’ ex-Holiday Inn
Cairns’ former Holiday Inn, now the Harbourside Hotel, has sold.
The local arm of the construction and hospitality division of Japan based Taisei Kanko is speculated be banking $30 million.
The asset was listed vacant in mid-2024 after 33 years.
An investor represented by Celestial Capital is the buyer, sources say.
That group six months ago sold a Mercure at Townsville.
“The inherent characteristics of this rare offering, for sale with vacant possession…will put any new owner in the perfect position to take the asset into the future and carry the legacy Taisei Kanko have built,” JLL’s Gus Moors said upon listing the property with Adam Bury and Gareth Closer (continues below).
Cairns Harbourside Hotel
On 5000 square metres, Cairns Harbourside Hotel contains 173 rooms across two towers, a pool, spa, restaurant and conference facility. Taisei Kanko Australia extended it from 100 rooms.
Since 2024, when it was rebranded, it has been managed by Glen Macdonald, former Fitzroy Island Resort General Manager and chief executive officer.
The property neighbours the Rydges Esplanade Resort Cairns, which JY Group acquired for $65m for an entity it owns a half stake in.
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