New era for former Palazzo Versace hotel as new buyer emerges

Palazzo Versace

A new chapter is set to begin for the former Palazzo Versace hotel on the Gold Coast with a Sydney businessman behind the deal, according to reports.

Rebranded last year as the Imperial Hotel, the sale is in its final stages according to hotel general manager Richard Clarke.

“I cannot disclose who it is but a lot of time and energy has been put in here,” he told the Gold Coast Bulletin. “In the coming days we will be able to disclose who that is.”

Clarke added that the new owner has “very big plans to regenerate” the hotel.

The latest deal follows a previous attempt to sell it to the Shakespeare Property Group for $114 million that fell through in 2022.