Palazzo Versace hotel allegations ‘untrue’ as owners commit to the future

The Chinese owners of Palazzo Versace have responded to rumours that the luxury Gold Coast hotel was being offloaded by declaring it is not for sale.

Last month the hotel stood down 200 staff as it closed for maintenance work. Separately, the owners of the hotel’s 72 condominiums also called a crisis meeting over the hotel’s future.

There was also speculation owners the Dong Run group were considering letting the licence to use the Versace name expire later this year.

But in a statement to the Gold Coast Bulletin the hotel said it will resume full trading “as soon as possible”.

“We also wish to address allegations aired in the media and elsewhere, such as the owner is spending money on major renovations ahead of our employees’ entitlements, that the hotel is for sale and that the hotel is involved in an ongoing dispute with the condominium owners,” the hotel stated.

“These allegations are untrue, deliberately hurtful and opportunistic. The hotel needs to repair storm damage where heavy rain and flooding damaged the northern and southern wings.”

The hotel said it was not for sale and was confident it would resolve complaints from the condominium owners “in the fullness of time”.

“Our owner and senior management remain committed to welcoming guests and team members alike back to the iconic and beautiful testament of Gianni Versace’s vision that is Palazzo Versace Gold Coast,” the hotel said.