The Gold Coast resort’s first hotel has been sold to a Chinese company

The Gold and Sunshine Coast Resort’s first property has been snapped up for an undisclosed sum by a Chinese investor who will be helping run the resort, its founder and CEO says.

Key points:Key pointsA Chinese investor will oversee operations and manage the resort’s business for the next 10 yearsThe Gold Coast has been looking to sell the property for more than $US30 millionA senior official said the deal was for about $US40 millionThe deal was made on Wednesday night but it has not yet been officially announcedMr Lopatin said the resort would be an asset to the region and would be used as an investment base for the region’s tourism industry.

The Gold and Sunsets Resort was established in 2007 with the aim of attracting the most affluent people from all over Australia and overseas.

“It’s a huge asset for the Gold Coast and we’re going to be using that asset to develop a new and exciting way of life in Australia,” Mr Lopalin said.

“That will create a lot of jobs in the local community, as well as bringing in more revenue for the Queensland Government.”

Key pointsThe Gold & Sunshine Coast is one of the first hotels to be built in Australia’s Sunshine Coast regionThe resort will be owned by a subsidiary of Chinese property giant Zhong YuhuaGroup, a company formed in the Chinese city of Shenzhen, said it will take over the hotel and make it the “new standard” in Australia for high-end luxury hotels.

“The Gold Beach Resort has become a global destination and a global benchmark in luxury resorts,” Zhong Yueng, chief executive of Zhong Yue Hua Group, said.

It is believed the deal is worth between $US10 million and $US20 million ($US22 million to $US24 million).

The resort is expected to open in 2020.

“We will be an investment vehicle for the development of the Gold and the Sunshine Coast, and will be the first resort in Australia to offer high-quality accommodation and lifestyle in the Gold Country,” Mr Liu said.

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