The acquisition of the Byron Bay beachfront resort marks the latest addition to Crystalbrook Collection’s AU$1 billion Australian portfolio
Syrian-owned Crystalbrook Collection has purchased one of Australia’s most renowned resorts, Byron at Byron, for a reported AU$41.7 million, two months after it was put up for sale. The acquisition of Byron at Byron brings Crystalbrook Collection’s Australian investment to $1 billion, with the group’s tourism and hospitality enterprises now operating in Cairns, Sydney, Byron Bay, Newcastle, Port Douglas and Crystalbrook.
Billionaire owner Ghassan Aboud said the acquisition highlights the company’s plans for further local expansion: “This is a momentous day for the Group. We are thrilled to be introducing Byron at Byron to Crystalbrook Collection, providing the opportunity of an outstanding leisure experience for our global customers. The acquisition of this fantastic asset signifies our continued quest for growth in Australia and the region.”
The shared values of Crystalbrook Collection and Byron at Byron was an integral component in the decision to acquire the property, according to Crystalbrook Collection Acting CEO and Group Director, Hotels, Geoff York. “Byron at Byron fits seamlessly with our existing personality-driven hotels and resorts. Its environmental stance, connection to its exquisite location and local creativity, authentic style and passion for wellness is an excellent fit,” he said.
The luxury beachfront resort is nestled in a 45-acre subtropical rainforest just a short drive from the iconic town of Byron Bay in New South Wales, and has long been a favourite among luxury travellers to the famous coastal enclave. The resort features 92 suites, an infinity pool, day spa, tennis court and one-hatted restaurant, and is in close proximity to spectacular beaches, world-class restaurants, stunning nature walks and waterfalls.
Byron at Byron will commence trading under Crystalbrook Collection later this year with further details to follow in the coming months.