Negotiations are continuing with at least two parties interested in buying Club Med’s Lindeman Island resort which will close its doors next week.
CBRE Hotels is selling the property on behalf of the French operator with the resort expected to command a price in excess of $10 million.
Talks will continue with CBRE likely to look for a public sale in mid February if no conclusion is reached with the current prospective buyers.
Club Med revealed in November their intention to sell Lindeman Island with demand for more upmarket resorts contributing to the decision.
“Our research shows that more and more our guests want our new premium all-inclusive product and Lindeman’s three Trident status, the only one in Asia Pacific, was not in that category,” Club Med Australia and New Zealand general manager Quentin Briard said at the time.
The operator is seeking a new property in Australia that will “mirror new global standards”.
