US firm Journey Beyond buys K'gari resorts and Captain Cook Cruises for $145.8m
Journey Beyond is buying Kelsian's tourism portfolio including K'gari resorts and Captain Cook Cruises for $145.8 million.
Kelsian Group, Australia's largest land and marine transport operator, is selling tourism assets to Journey Beyond. The sale costs $145.8 million and was approved by the ACCC and Foreign Investment Board.
The sale includes two K'gari resorts: Kingfisher Bay Resort and K'gari Beach Resort. Ferry services to the island and K'gari Explorer tours are also included.
Captain Cook Cruises runs sightseeing trips on Sydney Harbour. The Murray Princess is a paddlewheel cruise in South Australia.
SeaLink services operate across Tasmania, the Whitsundays and the Northern Territory. Kelsian is keeping SeaLink Rottnest, a profitable commuter ferry.
The deal should close in the first half of next year. Kelsian said the sale lets it focus on core transport work.
- $145.8 million
- Deal value
- Journey Beyond, US private equity firm
- Buyer
- Kelsian Group
- Seller
- 13,300+ employees
- Kelsian workforce
Why it mattersIconic Australian tourism experiences are now under foreign ownership. This could change how these destinations are operated and affect investment decisions made for them.
AustraliaAustralian tourists visiting K'gari resorts and taking Captain Cook Cruises in Sydney Harbour will now use facilities owned by a US company, though current services are expected to continue.
Corroborated byperthnow.com.au
✓ Claims checked against the source. checked 6 d ago
