Chinese investor expands far north Queensland tourism portfolio

Published Friday, 16 August, 2013 at 03:53 PM

JOINT STATEMENT

Treasurer and Minister for Trade
The Honourable Tim Nicholls

Minister for Tourism, Major Events, Small Business and the Commonwealth Games
The Honourable Jann Stuckey

Major Chinese investor Benny Wu has finalised the purchase of the 150 room Acacia Court Hotel in Cairns, in a sign of international confidence in the State’s tourism industry.

Minister for Tourism, Major Events, Small Business and Commonwealth Games Jann Stuckey said Queensland is increasingly on China’s radar as a major visitor destination and Dr Wu’s investment in the State will provide more of the needed visitor facilities.

“This is fantastic news for Queensland and a major boost to our tourism industry,” Ms Stuckey said.

“Dr Wu’s investment of the Acacia Court Hotel follows his property purchase on Double Island earlier this year.

“These investments will include major refurbishment and upgrades to the properties. 

“Increasing the quantity and quality of our visitor attractions, accommodation and services is paramount to the strength of Queensland’s tourism industry and the Government’s goal of doubling annual overnight visitor expenditure from $15 billion to $30 billion by 2020.

“In the year to March 2013 Queensland welcomed 279,000 Chinese travellers, making China the State’s second largest, and one of our fastest growing, international markets.

“The Newman Government remains committed to gaining the needed investment in the State’s attractions and accommodation to take our tourism industry into the future, facilitating opportunities through its dedicated Tourism Business Attraction Unit.”

Treasurer and Minister for Trade Tim Nicholls said Dr Wu’s investment was a show of confidence in Queensland and where the State was headed under the Newman Government.

“I had the opportunity to discuss the many opportunities for investment in Queensland’s tourism sector with Dr Wu while in Hong Kong on a trade mission last month,” Mr Nicholls said.

“Just like the Newman Government is confident in the direction this state is headed, Dr Wu is similarly optimistic about the potential for growth in Queensland.”

Mr Nicholls said Government-led trade and investment missions played an important role in promoting Queensland on an international stage.

“We have an extremely positive story to tell to the world and these missions are about marketing that to an international audience,” he said.

[ENDS] 16 August 2013

Media Contact:  Treasurer’s Office – 07 3224 6900

Minister Stuckey’s office - 07 3224 2004