Crystalbrook owner rules out Port Douglas sale, urges Cairns private sector to find courage to invest

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Crystalbrook Flynn, on the Cairns Esplanade, had not yet opened the last time its owner, Ghassan Aboud, was here.

Today, he finally got to see it in action.

The Dubai based Syrian billionaire is on his first visit to Cairns since the pandemic began, and he’s still deeply attached to the place.

“I fell in love with this city. Cairns really caused me to make big investments in Australia," he said.

"If I didn’t invest here, Crystalbrook would not be in Australia at all.

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“Now we have eight Crystalbrook hotels around Australia.

"Just yesterday, we finalised a new one on Sydney Harbour.”

Mr Aboud has invested hundreds of millions of dollars in three sustainable luxury hotels in Cairns - Flynn, Riley, and Bailey.

The Crystalbrook brand has eight properties around Australia and is about to launch its first overseas hotel.

Mr Aboud said COVID-19 had been tough on the hospitality industry, but he’s confident there are better times ahead.

“The last two years, we faced a hard time," he said.

"Everybody, not only this industry.

“But the good news is, the three hotels have very good occupancy now, around 80 per cent.

"In a hard time, with a new brand, it’s a great job.”

Mr Aboud said he stands ready to make further investments in Cairns, and he’s open to new tourism and hospitality projects.

But he said the private sector should find the courage to invest in new ventures to attract visitors to the region.

“When we arrive, we need to go shopping," he said.

"When you go to the centre (of town) there is nothing.

"This is the right time to have a great shopping mall here and bring the bigger brands.

“We need to believe.

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Mr Aboud, and Crystalbrook CEO Geoff York, played down reports of an imminent sale for the company’s yacht marina property in Port Douglas, with billionaire Gina Reinhart said to be keenly interested.

Mr York said there have been regular offers to buy the property.

“It is such a good business," he said.

"We don’t need to sell it, however, we keep getting asked.

“There’s a Melbourne investor, there’s someone from Western Australia, there’s been various people.

"It’s not for sale, but if you want to have a look, talk to us.”

Mr Aboud said he still wants to build a “special hotel” at Port Douglas.

“I want to build it in 2026, 2027, I want to start to build it," he said.

"If everything is going smoothly, then we will add that diamond to the necklace.

"It will be a great time.”