SUNBIZ

Landowners Buy 100% of Treasure Island Resort

The chairman of Treasure Island, Bill Whiting, said that the sale fulfilled an undertaking the he and his wife Pasemaca, gave to Nakelo 13 years ago.
19 Aug 2019 14:45
Landowners Buy 100% of Treasure Island Resort
Treasure Island Resort.

One of Fiji’s leading 4-star island resorts, the 78-room Treasure Island Resort, is now 100 per cent owned by Nakelo Pte Limited. This is the trust company for the tokatoka Nakelo from Vuda, Fiji, who are also the landowners for Eluvuka island which is wholly occupied by the resort.

This is after Nakelo who have owned 50 per cent of Treasure Island Pte Ltd for many years, yesterday, completing the purchase of Hunts Investments Limited.

Hunts Investments had owned the other 50 per cent.

The chairman of Treasure Island, Bill Whiting, said that the sale fulfilled an undertaking that he and his wife Pasemaca, gave to Nakelo 13 years ago.

Ownership

Viliame Bogisa chairman of Nakelo Pte Limited said that the purchase of Hunts; which gives Nakelo 100 per cent ownership of Treasure; was a dream come true.  He added that it is “the first time in Fiji that a large 4 star resort is 100 per cent owned by the landowners”.

Future

He stated that they looked forward to a great future with the excellent team that staff the resort.

He concluded by adding that the people of Nakelo were very appreciative of all that the Whitings had done for them for many years.

Nakelo would continue to engage Mr Whiting’s company Sandsmere Ltd with a management contract for the next three years.

Located in the Mamanuca group of islands, on a beautiful coral and sand cay, Treasure Island is a popular resort for families and divers as well as honeymooners, and couples of all ages.

It is also a very romantic and popular resort for weddings and people celebrating anniversaries.

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