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The Weekend Neos Kosmos : 29 November 2014
SATURDAY 29 NOVEMBER 2014 25 BUSINESS Quest founder inducted in Hall of Fame Quest Serviced Apartments founder and chairman Paul Constantinou has taken his company from one property 25 years ago to more than 150 today Quest Serviced Apartments founder and chairman, Paul Constantinou, has been inducted into the Hotel Management Hall of Fame, having taken his company from one property 25 years ago to more than 150 today. Quest announced recently a $500-million strategic partnership with one of the world’s largest serviced apartment owner-operators, the Singapore-based The Ascott Limited. Presented at the 13th HM Awards for Hotel and Accommodation Excellence, judges from across Australia, New Zealand and the Asia-Pacific honoured Constantinou with the accolade recently. HM Magazine editor James Wilkinson said the induction into the Hall of Fame was testament to Paul’s leadership skills, business prowess and commitment to the Australasian accommodation industry. Constantinou said he was honoured to receive the award from the industry. “However, this wonderful accolade must be attributed to more than just myself. I am very proud of what the Quest Serviced Apartments team has achieved over the past 25 years and have many people to thank for supporting me and the company during this time,” said Constantinou. Quest Serviced Apartments has established an advisory board of high profile business leaders to steer the company’s strategic direction over its next period of growth. The advisory board will provide commercial pragmatic advice to support Quest chairman Paul Constantinou and its senior management team. Novotel Wollongong Northbeach Hotel. Novotel Sydney Brighton Beach Hotel under Gravanis’ thumb The Greek billionaire takes his biggest investment leap so far Quest Serviced Apartments founder and chairman, Paul Constantinou. FINANCIAL WEEK Makris Group pours cold water on second Kangaroo Island ferry pitch A Greek Australian property developer has pulled back on its proposal to bankroll $8 million to help install a new passenger ferry from the popular Adelaide seaside suburb of Glenelg to Kangaroo Island (KI). The Makris Group last year held discussions with the South Australian government and proposed fronting $8 million to pay for infrastructure to support a second ferry. It said the government would only have to pay the money back if the ferry was still running daily services five years later. The Makris Group has now quelled ongoing speculation about the project and said it was focusing on "other projects" instead. Spokesperson John Blunt said the ferry would be looked at "further down the track" depending on market conditions after the group's current projects were completed. This included the major development of the old Le Cornu site at North Adelaide into an apartment and hotel complex. Mr Blunt also said "nothing was finished" in regards to the agreement with the government, which was reportedly made in the presence of a member of cabinet and the immediate past SA Transport and Infrastructure chief executive officer Rod Hook. Kangaroo Island is serviced by a passenger and vehicle ferry operating from Cape Jervis, nearly two hours drive south-west from Adelaide to Penneshaw on KI. Kostas Makris Greek publican and massive hotelier Bill Gravanis covets the sun-kissed Australian landscape and is just about to spend 100 of his million dollars to get his hands on the Novotel Wollongong Northbeach Hotel from Canadian group Brookfield, after offering an aggressive $48 million for the regional hotel south of Sydney a few months back. Brookfield secured a respectable number of hotels as part of its $410m takeover of Thakral Holdings in 2012. It recently sold the Sofitel Hotel at Broadbeach in Queensland for nearly $83m to a Chinese buyer, while it only retained the Menzies Hotel in the centre of Sydney. The official acquisition of the 296-room hotel next March will in fact be the biggest move to date for the Oscars Hotels group. Gravanis aims at the city's increasingly popular conference market at the same time the world is Bill Gravanis starting to notice a positive change on the business front, taking a bold step with an eye to the future. The Greek businessman certainly understands the business of hotels. Oscars Hotel, which is headed by Bill Gravanis, who co-owns it with Mario Gravanis, controls the Southern Cross, Bankstown, Hotel Sweeneys and Camperdown Hotels as well as Bar Century and the Strattons Hotel in the Sydney CBD, Oscars Lounge Bar in Pyrmont, and the Towradgi Beach Hotel in Wollongong.
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