When it comes to luxury hotels, the Palazzo Versace is a name that is often mentioned. Located on the Gold Coast of Australia, this hotel exudes elegance and style in every aspect of its design. But just how much is the Palazzo Versace worth?
To understand the true value of this hotel, we need to take a closer look at its history and features. Let’s dive in.
History of the Palazzo Versace
The Palazzo Versace was opened in 2000, after five years of construction. It was built by Sunland Group, a property development company based in Australia. The hotel was designed by Donatella Versace, the sister of late fashion designer Gianni Versace.
Design and Features
From the moment you step into the Palazzo Versace, you are greeted with luxury and opulence. The design of the hotel features bold colors and patterns, with marble floors and intricate mosaics throughout.
One of the standout features of the hotel is its stunning lagoon pool, which is surrounded by cabanas and palm trees. There are also three award-winning restaurants on-site, serving up delicious cuisine from around the world.
The rooms at the Palazzo Versace are just as impressive as the public spaces. Each room is decorated with unique furnishings and fabrics from the Versace Home Collection. Guests can choose from a variety of room types, including suites with private balconies overlooking either the marina or lagoon.
Current Value
So how much is all this luxury worth? According to reports from 2019, Sunland Group sold a 50% stake in the hotel for $68.5 million AUD (approximately $45 million USD). This puts the total value of the Palazzo Versace at around $136 million AUD (or $90 million USD).
However, it’s worth noting that the hotel has undergone some changes since then. In early 2021, the Palazzo Versace was rebranded as The Grand at Broadwater, after it was acquired by a new owner. It remains to be seen how this will impact the value of the hotel in the long term.
Conclusion
In conclusion, the Palazzo Versace is a luxury hotel that exudes style and sophistication. With its bold design and impressive features, it’s no wonder that the hotel has captured the attention of travelers from around the world. While its exact value may fluctuate over time, one thing is for sure – the Palazzo Versace will always be a symbol of luxury and glamour on Australia’s Gold Coast.