Laundy joint venture splash $200m on Sheraton Mirage Gold Coast

The Sheraton Grand Mirage Gold Coast.

Hotel barons Arthur Laundy and Theo Karedis are tipped to be buying the Sheraton Grand Mirage Resort on the Gold Coast for a reported $200 million, according to The Sydney Morning Herald.

The iconic resort had been put on the market by The Star Entertainment Group.

The acquisition will add to the billionaires portfolio of hotels which includes Sofitel Noosa, Crowne Plaza in Terrigal and the Manly Pacific.

Simon McGrath, the former chief executive of Accor Pacific, will oversee the Laundy family and Karedis joint venture’s hotel business.