Retail billionaire Gerry Harvey’s $45 million Byron at Byron Resort and Spa has joined Crystalbrook Collection.
The acquisition of Byron at Byron brings Crystalbrook Collection’s portfolio to more than 1,100 rooms in operation or under development across seven properties in New South Wales and Queensland.
Crystalbrook Collection’s stated investment plans are to the tune of $1 billion in Australia.
Owner Ghassan Aboud said the acquisition marked a “momentous day” for Crystalbrook.
“We are thrilled to be introducing Byron at Byron to Crystalbrook Collection, providing the opportunity of an outstanding leisure experience for our global customers,” he said.
“The acquisition of this fantastic asset signifies our continued quest for growth in Australia and the region.”
Byron at Byron will commence trading under Crystalbrook Collection later this year with further details to follow in the coming months.
The “shared values” of Crystalbrook Collection and Byron at Byron was reportedly an integral component in the decision to acquire the property.
Crystalbrook Collection acting CEO and group director of hotels, Geoff York, said the property fits seamlessly with the company’s existing “personality-driven” hotels and resorts.
“[Byron at Byron’s] environmental stance, connection to its exquisite location and local creativity, authentic style and passion for wellness is an excellent fit,” he said.
The group’s tourism and hospitality enterprises will now operate in Cairns, Sydney, Byron Bay, Newcastle, Port Douglas and Crystalbrook.