Can Dreamworld be revived with a new resort?

Plans for a $75 million Dreamworld resort are underway on the Gold Coast, where guests can stay at the hotel whilst enjoying exclusive access to Dreamworld and Whitewater world.

It was announced today that Dreamworld, owned Ardent Leisure (ASX: ALG), has entered into an agreement with Evolution Group to build the resort on land next to the Dreamworld theme park.

The accommodation options will include a four star resort style hotel with 250 rooms and 40 bungalows. There will also be a 5-star tourist park with 100 powered sites. The resort  will also have restaurants, conference facilities, swimming pools and a gymnasium.

This is currently a non-binding agreement and is subject, however owener Ardent Leisure is optimistic that final terms can be agreed in the near future.

Dreamworld’s newly appointed CEO, Greg Yong said, "The hotel and tourist park will complement Dreamworld as a premium entertainment destination and add a new level of convenience for guests who will have our theme park and water park on their accommodation's doorstep.

"The project will create employment within the local community and contribute to the regeneration of tourism on the Gold Coast."

Irit Jackson, 6th May 2021