Hotel billionaire flies high, buying out Sydney Seaplanes
Hotel billionaire Jerry Schwartz is flying high, buying majority control of Sydney Seaplanes from former owners Aaron Shaw and Ken Gaunt.
Schwartz will gain full ownership of the charter business by the middle of this year.
Sydney Seaplanes operates scenic flights from the harbourfront at Rose Bay in the upmarket eastern suburbs. The deal includes the company’s adjoining Rose Bay headquarters and the Empire Lounge restaurant, bar and function venue.
Through his Schwartz Family Company empire, the rich-lister controls one of Australia’s largest privately owned hotel and hospitality companies. Schwartz has 15 hotels with 4300 rooms, managed by brands including Sofitel, MGallery, Novotel, Mercure, Ibis, Rydges, Hilton, Paradise Resort Gold Coast and Leura Gardens Resort.
The Sydney Seaplanes deal comes as the owners of Schwartz’s former hotel Four Points by Sheraton Central Park, the Colorado-based tourism investor KSL Capital, put the property back on the market.