Good evening,
 
 

Good evening,

Two famed pieces of Australian tourism, the Ayers Rock Resort and the Mossman Gorge Cultural Centre, have come up for sale as the sector rebounds to near pre-pandemic levels.

The federal government’s Indigenous Land and Sea Corporation (ILSC) has launched a formal sale process for the operational assets of its subsidiary Voyages Indigenous Tourism Australia. Voyages is the operator of the 100-square-kilometre iconic Ayers Rock Resort – the only major resort property near the World Heritage-listed Uluru-Kata Tjuta National Park.

Also on the block is Voyages-operated Mossman Gorge Cultural Centre (MGCC), an eco-tourism and cultural centre inland of Port Douglass which offers its 300,000 annual visitors access and guided tours of the Mossman Gorge World Heritage area. The centre, which includes a gift shop and cafe, was built by the ILSC in collaboration with the Mossman Gorge Aboriginal Community and Kuku Yalanji elders and is a major employer of Aboriginal and Torres Strait Islander people.

The decision to sell comes six months after the corporation tapped Greenhill & Co and Gilbert + Tobin to run a strategic review for its subsidiary Voyages, as revealed by Street Talk.

Read the full story tomorrow and more on the Street Talk page.

  • New World Development Co gets $US1.2 billion offer for Hong Kong shopping mall, Bloomberg reports.
  • OpenAI in talks to close a new funding around at $US100 billion valuation, TechCrunch reports.

Australia public M&A total deal value of $49.2 billion for the 2024 financial year was well below $75.6 billion for FY23 and $123.7 billion the year prior, according to Freehills’ annual report. The previous five years’ average stands at $60.6 billion.

The sharemarket had its steepest decline in three weeks on Thursday, tracking a weak lead from Wall Street and a sharp fall in Nvidia’s stock in after-hours trading.

Click here for the latest equity market wrap.

 
The Australian Financial Review
TwitterInstagramLinkedInFacebook
Apple StoreGoogle Play

You have received this email because you are subscribed to Street Talk First Look with the email address: newsletter@newslettercollector.com

  Manage Subscriptions     Unsubscribe     Privacy Policy     Contact Us  

© 2024 The Australian Financial Review

1 Denison Street North Sydney, NSW 2060 Australia

 
Nine Entertainment, 1 Denison St, North Sydney, NSW, 2060, Australia Profile center