Developer plans sale of Fitzroy Island Resort in Queensland, Australia

Doug Gamble, an Darwin-based property developer, is selling Fitzroy Island Resort in Queensland as he plans to retire. 

Gamble purchased the resort six years ago for an estimated $8 million after it went into receivership following the financial collapse of its owner, Sunshine Coast developer Joshua Hunt. Since then, Gamble has invested millions in it. He is now seeking buyers for the hotel, which he hopes to sell for $30 million.

Resort Brokers Australia will put the tourism business, perpetual leasehold and associated development opportunities on the market in a six-week expressions-of-interest campaign starting on Monday.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The assets include the 102-room resort hotel, food and beverage outlets, conference and wedding venues, leisure facilities, a dive shop (leased to an outside operator), a general store, mooring facilities and a 190-seat high-speed catamaran ferry service, the Fitzroy Flyer. The resort is being sold with development approvals and plans for future stages.

“We can expect substantial interest from both local and international buyers, including large hotel operators and investors,” Resort Brokers Australia national sales manager Trudy Crooks said, adding that income was likely to exceed $2.7 million in the current financial year.

Australia is in the middle of a tourism boom, and the North of the country has reported $230 million of hotel and resorts sales over the past 18 months. 

Read more on

Suggested Articles

The Louis Group collection is tagged at a total enterprise value of €178.6 million. 

Barron Hilton, son of Hilton founder Conrad Hilton, served as president/CEO of Hilton from 1966 to 1996.

Kenny Kan is tasked with increasing the Outrigger portfolio through acquisitions and management contracts in Hawaii and global resort destinations.