AND then there were three… The painfully slow – and unprofitable – exit of property giant GPT Group from the tourism industry has accelerated with the announcement that it has sold the following (mostly) luxury resorts to a range of buyers: Cradle Mountain Lodge, Silky Oaks Lodge, Dunk Island Resort, Bedarra Island Resort, Lizard Island Resort, Heron and Wilson Island Resorts, El Questro, Kings Canyon Resort, Alice Springs Resort and Wrotham Park Lodge. They were sold for a grand total of $84.9m, 40% less than they were valued in December. The troublesome Ayers Rock Resort still remains on GPT books, as does Brampton Island Resort and Four Points by Sheraton. Meanwhile, the 557 room Sheraton on the Park in Sydney has been put on the market by Starwood Hotels and Resorts Worldwide.
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