- Vaughan Strawbridge and David McGrath lead the restructure
- JLL managed the sale
- Will be operated by mostly Fijian staff
Vaughan Strawbridge, a leading restructuring expert, and David McGrath of FTI Consulting have announced the completion of the sale of Six Senses Fiji – one of the major five-star luxury resorts in the region.
JLL Hotels & Hospitality Brokers Nick Thompson (New Zealand) and Peter Harper (Australia) exclusively managed the sale.
The new owners are Sequitur Resorts, and the operation will be run by predominately Fijian staff. 130 people will be employed in total. Completed in 2018, the luxury resort consists of 24-villas on the western coastline of Malolo Island.
“After being closed for more than two years, I am delighted Six Senses Fiji has reopened to guests and reemployed a full team of staff. It was an extraordinary effort by management and staff to reopen the resort after being closed for 2 years, they did an amazing job,” said Mr Strawbridge.
“The restructuring of Six Senses Fiji is a prime example of how innovative thinking can return a tourism business to full health following this turbulent COVID-19 crisis period.
“Six Senses Fiji is now completely focused on providing a premium experience to customers and has a bright future, backed by a robust financial structure and an extremely dedicated owner.”
Mr Thompson added the sale demonstrates the revitalisation of tourism investment across the Pacific.
“The market has responded to a reinvigorated resort business in a first-rate tourism destination. The resort sold unconditionally after just one month on the market,” he said.
“For more than two years now the tourism industry has been in a holding pattern. This major sale shows that businesses willing to adapt can have a strong future.
“We ran a comprehensive and global campaign but still we were impressed by the sheer amount of interest we received.”
“Optimism around the removal of border restrictions and a return to tourism has started to drive activity and investors don’t want to miss the opportunity.
“This unwavering demand means sellers of hotel and hospitality assets in Asia Pacific are receiving returns akin to before the pandemic.”