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SeaLink announces $43m acquisition of Kingfisher Bay Resort Group

Kingfisher Bay Resort aerial shot (Credit: Cathy Finch Photography)

SeaLink Travel Group (SeaLink) has announced that it has acquired the assets and operations of Kingfisher Bay Resort Group (KBRG), located on the World Heritage-listed Fraser Island, for $43m.

The acquisition includes the two island resorts; Kingfisher Bay Resort and Eurong Beach Resort, Fraser Explorer Tours and the Fraser Island Ferry business operating from Hervey Bay to the Western side of Fraser Island.

SeaLink Managing Director, Jeff Ellison said: “Fraser Island is one of the most iconic destinations in Australia and is famous throughout the world for its World Heritage listed wonders. Located 15km off Queensland’s coast, Fraser Island stretches 123 kms in length, and is the world’s largest sand island.

“Kingfisher Bay Resort Group is by far the major hospitality, touring and transport operation on Fraser Island, and we are delighted to be taking ownership of this leading tourism business to drive future protection, promotion and growth of the Island.”

The purchase price of $43 million includes land and buildings, plant and equipment, three vehicular ferries, a 30-vehicle touring coach fleet, all contracts, licences, intellectual property and goodwill.

SeaLink Chair, Andrew McEvoy, added: “This exciting new acquisition aligns with our strategy and enhances our position as a major provider of connections to iconic Australian destinations. We are excited about working with the fantastic management and operational team at Kingfisher Bay Resort Group to build on their strong and growing position in the Australian tourism market.”

The news follows SeaLink’s most recent acquisitions of Transit Systems ferry operations in Queensland and Captain Cook Cruises in Perth.

KBRG Managing Director, Gary Smith, stated that he was excited for SeaLink to bring a national focus the company and the Fraser Coast region: ” I have been very impressed with my interactions with the SeaLink team during the sale process; they will be a great asset to our businesses and people, as well as the Fraser Coast region.”

Operations across the KBRG will continue ‘business as usual’, with Group General Manager, David Hay continuing to manage operations across the group. Hay said: “It is a very exciting time for our business and I look forward to leading our team into the next chapter of the evolution of our business. SeaLink is a progressive Australian company that will add significant value to our operations on Fraser Island. The decision to acquire our business is a vote of confidence in our region and its potential as a tourism destination.”

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