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Hotel from Priscilla, Queen of the Desert sells for $105 million to Sydney property developer

Hotel from Priscilla, Queen of the Desert sells for $105 million to Sydney property developer

A piece of Australian film history is officially off the market after a Sydney property developer bought the famous Lasseters Hotel Casino in Alice Springs for a whopping $105million. 

The hotel, formerly called the Diamond Springs Casino, appeared in cult Australian film The Adventures of Priscilla, Queen of the Desert as the location where drag queen Mitzi Del Bra (Hugo Weaving) performed on-stage. 

Sydney-based development empire Iris Capital purchased the hotel from Singapore-listed group Lasseters International Holdings, who owned the property for the past 24 years.  

Sold! The iconic Alice Springs hotel from The Adventures of Priscilla, Queen of the Desert has sold for $105 million to Sydney property developer. Pictured: Hugo Weaving, Terence Stamp, Guy Pearce in The Adventures Of Priscilla Queen Of The Desert

The hotel has undergone a complete refurbishment over the past eight years, with Lasseters splashing over $50 million spent on renovations. 

What was previously a 75-room hotel with 188 gaming machines, 21 table games and basic dining facilities, is now a 4.5 star hotel with 205 rooms and a top-of-the-line commercial health club. 

The hotel also boasts a day spa, convention centre, several restaurants and bars, and an international standard casino.  

Local acquisition: Sydney-based development empire Iris Capital purchased the hotel from Singapore-listed group Lasseters International Holdings

Local acquisition: Sydney-based development empire Iris Capital purchased the hotel from Singapore-listed group Lasseters International Holdings 

The hotel, formerly called the Diamond Springs Casino, appeared in cult Australian film The Adventures of Priscilla, Queen of the Desert as the location where drag queen Mitzi Del Bra (Hugo Weaving, pictured) performed on-stage

The hotel, formerly called the Diamond Springs Casino, appeared in cult Australian film The Adventures of Priscilla, Queen of the Desert as the location where drag queen Mitzi Del Bra (Hugo Weaving, pictured) performed on-stage

In a public statement last month, Lasseters chief executive Datuk Paul Wong said it had been a ‘pleasure’ having the property on their portfolio.

‘Lasseters greatest asset is the dedication and commitment of the staff, some of whom have been with the company in excess of 20 years,’ he said. 

‘On behalf of the board, we wish [them] the very best in this next chapter and express our most sincere gratitude to each and every Lasseters employee who has been a part of this most remarkable journey.’     

Face lift: The hotel has undergone a complete refurbishment over the past eight years, with Lasseters splashing over $50 million spent on renovations

Face lift: The hotel has undergone a complete refurbishment over the past eight years, with Lasseters splashing over $50 million spent on renovations

New look: What was previously a 75-room hotel with 188 gaming machines, 21 table games and basic dining facilities, is now a 4.5 star hotel with 205 rooms and a top-of-the-line commercial health club

New look: What was previously a 75-room hotel with 188 gaming machines, 21 table games and basic dining facilities, is now a 4.5 star hotel with 205 rooms and a top-of-the-line commercial health club

In another statement, Lasseters confirmed that part of the reason for the sale was due to the Australian government’s recent regulatory clampdown on James Packers’ Crown Resorts.  

‘The gaming sector in Australia is highly regulated,’ the company said.  

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‘Recent events in this sector and the issues with the other casino operator in Melbourne in relation to regulatory inquiry on alleged money laundering and possible links to organised crime may have an impact on financial institutions’ risk appetite in financing this sector.’  

Luxury; The hotel also boasts a day spa, convention centre, several restaurants and bars, and an international standard casino

Luxury; The hotel also boasts a day spa, convention centre, several restaurants and bars, and an international standard casino

'The gaming sector in Australia is highly regulated': Lasseters confirmed that part of the reason for the sale was due to the Australian government's recent regulatory clampdown on James Packers' Crown Resorts

‘The gaming sector in Australia is highly regulated’: Lasseters confirmed that part of the reason for the sale was due to the Australian government’s recent regulatory clampdown on James Packers’ Crown Resorts

The Adventures of Priscilla, Queen of the Desert followed two drag queens, played by Hugo Weaving and Guy Pearce, as they made their way across the Australian Outback.

News of the sale comes after Alice Springs was named one of Australia’s most popular tourist spots, as overseas locations like Bali and Thailand remain off the cards amid an international travel ban. 

On Wednesday, travel company Skyscanner released a report dubbing Alice Springs ‘the new Bali’, with the unlikely town now rivalling the pristine beaches of the Gold Coast, Cairns and the Whitsundays as winter approaches. 

Iconic: The Adventures of Priscilla, Queen of the Desert followed two drag queens, played by Hugo Weaving (left) and Guy Pearce (right), as they made their way across the Australian Outback

Iconic: The Adventures of Priscilla, Queen of the Desert followed two drag queens, played by Hugo Weaving (left) and Guy Pearce (right), as they made their way across the Australian Outback


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