VISION Group is considering further investments in Hilton Resorts in two different phases.
Group chairman Dilip Khatri says this will involve investments of at least $40-$45million, if not more.
And in this regard, he announced that Bank of South Pacific will be their partner in this investment.
On completion of these two new phases in further investments, he said Hilton would be the first large five-star property to be substantially owned by local investors.
On completion of stage 2B development of Hilton, Mr Khatri said there would be 455 rooms in this resort.
“This would make Hilton one of the largest hotel properties in Fiji.”
In October 2011, the group had an opportunity to acquire 60 per cent controlling interest in Fiji Beach Resort and Spa, managed by Hilton, at a cost of $31.2m.
“A spin off the Hilton acquisition was our realisation for the need of laundry services which led to the establishment of our commercial laundry called Dhobys.”
This, he said then led to the establishment of Eco Solution, their chemical company to support the hotel and laundry industries.
The group also managed to bring two major foreign-owned businesses, namely Courts and Hilton, into local ownership.
“Our initial investment to acquire Courts was $48m. Since then, within the Courts umbrella, we acquired CARPET International, and Sportsworld, both divisions which have become successful arms of Courts.”
