Pullman Cairns International hits market after decade of ownership
One of Far North Queensland's premier hotels, the Pullman Cairns International, has been listed for sale after more than a decade under the same owner, with agents billing the deal as a "one-of-a-kind opportunity" for investors.
The 17-storey, 324-room property was last sold in 2015, when Shakespeare Property Group acquired it for more than $69 million. The 8,139-square-metre site sits between the Cairns Convention Centre and The Reef Hotel Casino, within walking distance of the Cairns Esplanade, and is regarded as the most significant hotel site in the city.
The hotel comes to market following a $25 million upgrade and will be sold vacant of brand and management. It includes Coco's Kitchen & Bar, the Vie Spa day spa, a resort-style pool deck, 196 basement car parks, a retail arcade, and the city's most comprehensive conference facilities, spanning 15 flexible spaces anchored by a large ballroom.
JLL Hotels & Hospitality Group executive vice president Adam Bury, who is leading the sale, said the asset combined an irreplaceable landholding with strong existing cash flow and clear upside. He pointed to a high-single-digit yield with potential to move into double digits by the time of the 2032 Olympic Games, for which Cairns is a co-host city.
Bury said Cairns had become a resilient, stable market backed by strong domestic leisure demand, recovering international visitation and an established corporate segment, with no new hotel supply currently in the pipeline.
The listing follows a strong year for Cairns hotel transactions, with deals topping $80 million in 2026 and the Mercure Cairns also recently placed on the market. JLL Hotels & Hospitality Group is accepting expressions of interest for the Pullman Cairns International.
Jonathan Jackson, 17th August 2026
