The careful expansion continues with the purchase of Kingfisher...

The careful expansion continues with the purchase of Kingfisher Bay Resort and associated ferry business on Fraser Island.

It appears the business was bought with a very good p/e but will need a few bob spent on it to get it back in tip top condition.

Combined with Vivionne Bay Resort on Kangaroo Island creates the opportunity to begin a hotel and apartment chain if they get the right managers. Mantra is being swallowed up by Accor so an opening is now there for an Australian owned company to build up just like Mantra did.