Investment sees further engagement in tourism sector, demonstrates confidence
RACHNA LAL
SUVA
Vision group
The locally-owned Vision Group will now add more resorts and properties to its list of investments in the country.
It is buying Sonaisali Island Resort, Tadrai Island Resort and the Sonaisali Premium (Fiji) Residents (the Sonaisali Group).
The McGrath family, owners the properties, made the announcement yesterday that an agreement has been signed for the sale.
The flagship Sonaisali Island Resort is on an island close to the Viti Levu mainland south of Nadi. Tadrai is a small luxury resort on Mana in the Mamanuca islands west of Nadi.
Vision Group recently completed the 100 per cent acquisition of the Fiji Beach Resort & Spa managed by Hilton on Denarau Island.
Vision Group chairman, Dilip Khatri, therefore said this investment significantly expands their engagement in the tourism sector.
It is a further demonstration of their confidence in the Fijian economy, he said.
“On completion of the sale by obtaining all regulatory approvals, Vision Group is committed to continue and enhance the McGrath’s contribution to the Sonaisali Group’s success over the past 20 years.”
The sale will not affect any current staff and management as they will remain in place over the transition period.
All contracts and arrangements in relation to the daily operations of the properties are also expected to go on unchanged.
Managing director of Sonaisali Group, Aaron McGrath, said: “We are excited for our existing team, as a company like the Vision Group brings with it excellent training, development and promotional opportunities.
“We are also very happy to see Vision Group come in with the intention to develop the resorts to the next level. There are very exciting times ahead for all concerned.”
About the McGraths
Jan and Aaron McGrath, owners of the resorts, have operated in Fiji for the past 20 years.
rachnal@fijisun.com.fj