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After more than a year on the market, the RACV will buy the Creswick Forest Resort. Currently operated by Novotel, it will become an RACV-owned and run property from November. “RACV has purchased the Forest Resort Creswick property which from November 1 2015 will be added to RACV’s portfolio of resorts,” said the motoring body in a statement. The sale will include 91 rooms of the 143-room resort and the golf course, according to administrator BRI Ferrier’s online listing. RACV already has seven resorts in Victoria, Queensland and Tasmania. The Victorian properties include Cobram, Cape Schank, Inverloch and Torquay. It is unclear what will happen to the rest of the development, as BRI Ferrier and current operator Novotel declined to comment on the specifics of the conditional sale. The price has not been disclosed. A spokeswoman from Novotel’s parent company Accor said as the operator they were not involved in any sale discussions. The hotel also frequently hosts conferences, like the CFA-SES community conference which saw hundreds come to Creswick on the weekend just past. The property itself has been the focus of controversy in recent years. The overall development the subject of a Supreme Court battle between the developers and lenders. Accor made a deal with the Walsh family in 2006 to build a Novotel hotel on the site, but when it was finished in 2008, in-trouble lender MFS claimed the family had defaulted on a loan and tried to take possession. That action and then the sale of the defaulted loan to another company became the focus of action in the Supreme Court of Victoria. It is understood court proceedings have now ended and the Walsh family is no longer involved in the development. The golf course has also seen some controversy after the resort decided to pull out of its five year contract to host the Victorian PGA Championship after two years in 2013.
After more than a year on the market, the RACV will buy the Creswick Forest Resort.
Currently operated by Novotel, it will become an RACV-owned and run property from November.
“RACV has purchased the Forest Resort Creswick property which from November 1 2015 will be added to RACV’s portfolio of resorts,” said the motoring body in a statement.
The sale will include 91 rooms of the 143-room resort and the golf course, according to administrator BRI Ferrier’s online listing.
RACV already has seven resorts in Victoria, Queensland and Tasmania.
The Victorian properties include Cobram, Cape Schank, Inverloch and Torquay.
It is unclear what will happen to the rest of the development, as BRI Ferrier and current operator Novotel declined to comment on the specifics of the conditional sale.
The price has not been disclosed.
A spokeswoman from Novotel’s parent company Accor said as the operator they were not involved in any sale discussions.
The hotel also frequently hosts conferences, like the CFA-SES community conference which saw hundreds come to Creswick on the weekend just past.
The property itself has been the focus of controversy in recent years.
The overall development the subject of a Supreme Court battle between the developers and lenders.
Accor made a deal with the Walsh family in 2006 to build a Novotel hotel on the site, but when it was finished in 2008, in-trouble lender MFS claimed the family had defaulted on a loan and tried to take possession.
That action and then the sale of the defaulted loan to another company became the focus of action in the Supreme Court of Victoria.
It is understood court proceedings have now ended and the Walsh family is no longer involved in the development.
The golf course has also seen some controversy after the resort decided to pull out of its five year contract to host the Victorian PGA Championship after two years in 2013.
