One hundred year old Port Hedland’s Esplanade Hotel has been purchased for more than $30 million by Perth-based pharmacists Con Berbatis and Fonda Grapsas from Doug Gould.
Mr Berbatis, part owner of Perth’s Holiday Inn City Centre, said unmet demand for business and tourist short-stay accommodation in Port Hedland, along with the historic hotel’s charm, provided a strong business case.
“The rapid increase in economic activity in the Pilbara is driving demand for short-stay accommodation and improved food, beverage and entertainment in Port Hedland,” Mr Berbatis said.
A major expansion of the Esplanade over the past two years has increased the number of rooms fourfold to 108. Further upgrades include a new kitchen, another restaurant area with alfresco dining and a new liquor licence.
CBRE Hotels Perth senior director David Kennedy said the sale had set a new benchmark in the North West.
