Sheraton Fiji Resort Sold

AN Australian firm, Essington Lim ited, recently purchased the 300room Sheraton Fiji Resort for around SF6O million.

As part of the acquisition, Essington (Fiji) Limited was established as a wholly owned subsidiary of the Australian group to assume responsibilities for activities in Fiji. Essington managing director Mal colm Edwards said his company had a strong relationship with the Sheraton group in the past; its construction arm, Thiess Watkins, built the Sheraton Mirage resort at Port Douglas in Queensland and recently acquired the construction activi ties of White Industries.

Mr Edwards said Essington was con sciously looking to establish a major con struction presence in Fiji: “Our acquisition of the Sheraton Fiji Resort and the em phasis we’re placing on future construc tion activity indicates how confident we

are about Fiji’s future.” Nadi developer Dennis McElrath, a director of Essington (Fiji) Limited, will be the parent com pany’s representative in Fiji.

Both Sheraton Fiji Resort and the Re gent of Fiji are on Denarau Beach, about 20 minutes from Nadi International Air port. “These are two quality hotels in har monious competition, and the strength of the two organisations can only be benefi cial to Fiji and its economy,” Mr Edwards said. “While Essington has no involve ment in ElE’s proposed developments and its expansion of the Regent of Fiji, we are extremely supportive of these activities and Essington and EIE will take a suppor tive role in the construction activities of the Denarau development.”

Essington (Fiji) has also acquired Vomo Island in the nearby Mamanuca group as a potential resort site. □