Get a Vibe for the Gold Coast

Barana Group & Toga Hospitality Get a Vibe for the Gold Coast

PRESS RELEASE | 19 May 2005

Barana Group and Toga Hospitality have purchased the Concorde Hotel located
on the Nerang River water front on Queensland’s Gold Coast for a price of
$27.5million in a deal brokered by Mike Batchelor of Jones Lang La Salle Hotels.
Greg Shand, of the Barana Group commented “Vibe Hotel Surfers Paradise will
undergo a multi-million dollar refurbishment to ensure it meets the expectations
of the emerging market of savvy, modern travelers.”

Barana and Toga are also seeking expressions of interest from parties who
would like to benefit and work on the reposition and re-branding of the well
known Pink Elephant Bar on the premises of the hotel.

Under two years old the Vibe Hotels brand now boasts 6 Hotels across Sydney,
Melbourne and now Queensland’s Gold Coast. Vibe Hotels are managed by
Toga Hospitality, well known for their award winning Medina Apartment Hotels.

In addition to the 199 guest rooms, facilities include a restaurant and bar,
swimming pool and guest rooms with breathtaking Gold Coast hinterland and
Nerang River views. With extensive facilities for meetings and events planned in
the refurbishment, Vibe Hotel Surfers Paradise will also boast creative spaces for
all possible conference requirements.

Vibe Hotel Surfers Paradise is perfectly situated on the beautiful Nerang River. If
shopping is your game, there is a smorgasbord to choose from: high fashion
amidst the boutique strewn area, including the Chevron Renaissance
development. Gold Coast beaches call you to brunch by the surf, with the world
renowned Surfers Paradise Beach and its iconic lifestyle only blocks away.