Joint venture to go ahead with US$12.2 million Western Australia resort aimed solely at Chinese tourists
- Dyno Zhang’s Shanghai-based Macro Capital Limited, Sam Barnett’s Pearllargo are partnering on five-star resort close to the Hutt Lagoon
- Barnett says by the time resort opens, the Covid-19 outbreak would have been dealt with
A joint venture between an Australian and a Chinese company will go ahead with the development of a A$18.2 million (US$12.23 million) resort project in Western Australia targeting solely Chinese tourists.
Dyno Zhang’s Shanghai-based Macro Capital Limited, a licensed fund manager in Australia, and Sam Barnett’s Pearllargo are partnering on Kaleidescope Resort, a five-star resort with 68 rooms close to the Hutt Lagoon, a large pink lake popular among tourists. The project is to be built on 311 acres of oceanfront land in Yallabatharra, and its target completion date is November 2022.
Zhang is a former managing director of Chinese group 3 Oceans, and Barnett is a son of former Western Australia Premier Colin Barnett.
“Pearllargo does not have any plans to advertise the resort outside China,” Barnett said, adding that by the time it opens, the deadly Covid-19 outbreak would have been dealt with. “Long term, Australia has established itself as a staple tourism destination. An average of 1.3 million Chinese tourists visit Australia annually. This represents 15 per cent of the total inbound market and is worth A$11.5 billion to the Australian economy annually,” he said.
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The project will feature local Cantonese and Mandarin speaking staff, traditional cuisine, equestrian sports and sunset horse rides on the beach.
