Warwick plans $200m Pacific expansion

Warwick Hotels and Resorts plans to spend about $200 million over the next 30 months expanding and renovating its properties in Fiji and Vanuatu, with the investment expected to help double revenue within five years.

Warwick Hotels and Resorts president Richard Chiu revealed the scale of the expansion while announcing the planned listing of Warwick Holdings Fiji, a major subsidiary of the group in Fiji and the South Pacific, on the South Pacific Stock Exchange (SPX).

“This program of expansion and renovation is estimated to cost approximately F$200million in the next thirty months, and we believe it would help to double our revenue in the next five years.”

The expansion includes 100 new rooms next to the Naviti Resort and another 82 rooms at Tokatoka Resort near Nadi International Airport.

Tokatoka’s expansion will also include a 550-square-metre ballroom, an additional swimming pool and a new food and beverage facility, while its existing 108 rooms will be fully renovated.

Existing rooms and suites at Warwick Fiji and Naviti Resort will also be upgraded or renovated.

At Tambua Sands, all 25 villas are planned for renovation, with private plunge pools to be added to some.

The group also plans to add 100 rooms to Warwick Le Lagon in Vanuatu, upgrade or renovate its existing rooms and build a new spa.

Mr Chiu said the South Pacific and Fiji had become increasingly important to the international hotel group despite its United States and European properties contributing the bulk of its revenue and profit.

Warwick Hotels and Resorts operates about 50 hotels and resorts across four continents.

Fiji investment welcomed

Prime Minister Sitiveni Rabuka welcomed Warwick’s continued investment in Fiji, saying it would contribute to the country’s tourism growth and create opportunities for Fijians and local businesses.

“Tonight, Warwick is doing exactly that, and I thank them for it,” Mr Rabuka said.

The developments come as Fiji targets 1.25 million visitors and $4 billion in tourism earnings by 2027.

Mr Rabuka said major investments could generate employment during construction and once developments were operational, while supporting businesses across the tourism supply chain.

He also encouraged greater local participation in Fiji’s capital market so Fijians could benefit directly from economic growth.

“This is how wealth stays home. This is how the growth of Fiji becomes the prosperity of Fijians,” he said.

Warwick Holdings Fiji also plans to allow Fijian and other investors to participate in the company through its intended SPX listing.

Mr Chiu said the group had remained consistently profitable and had “extremely low and practically no borrowing”.

Warwick is also exploring investment opportunities elsewhere in the Pacific, including the Solomon Islands.