DAYDREAM ISLAND
Whitsunday tourism began on Daydream Island, or West Molle Island as it was then known, in 1933 when it was purchased by retired army major Paddy Murray and his wife. Daydream changed hands several times in the ensuing years, owners coming and going almost as frequently as guests.
In 1947 the island was purchased by airline tycoon Sir Reginald Ansett, who then closed the resort in 1953, dismantling the buildings and shipping them to his new resort on Hayman Island. Daydream was closed until 1967 (although rumour has it the island was the base for an illegal casino during that time) when it was sold to a Gold Coast entrepreneur, Bernie Elsey, who conducted a massive redevelopment of the island. The resort was destroyed by Cyclone Ada three years later.
In 1989, Daydream was bought by Jennings Industries and Peter Laurance who spent $120 million on it. Village Roadshow bought it from them for $22.5 million in 1996, and spend several more millions on it. In 2000, Village Roadshow sold it for a song - just $12.5 million - to prominent Queensland developer Keith Williams and fellow Queenslander Vaughan Bullivant.
Keith "The Deal" Williams is a self made multi-millionaire, the brainchild behind Hamilton Island Resort, and the creator of the hugely popular Seaworld themepark on Queensland's Gold Coast. His fight to build a resort on Port Hinchinbrook has been one of the longest and most bitter disputes between a developer and environmental activists in Australia's history. A lasting image of Keith Williams is a snippet of television footage from 1985, as the tycoon - dressed in deck shoes, short pants and pastel coloured polo shirt - battled to fight a fire that eventually raged through much of his Hamilton Island resort.
Vaughan Bullivant is much less known than Williams, but his name has become legend in business circles. Once a world champion water skiier, his business career began in the mid 1990's when he used a $10,000 legacy from his aunt to start a small health food shop. He spent the next decade working 70 hours a week, creating his own 'Nature's Own vitamin' line. In 1999 Bullivant sold his company for a whopping $137 million.
"I used to work for Keith Williams when he had Sea World and the Ski Gardens many years ago. So he knew of me and when I got the publicity of having received all this money for selling my vitamin company he called me up and said "Vaughan would you be interested in going partners with me in Daydream Island?" And I said "Aw no Keith I just want to relax, I don't want any more responsibility, I've had enough, I'm really stressed out and burnt out. I just need some time off." He said, "but you wouldn't have to do anything because I'd manage the Island. I just need a financial partner." Unfortunately that didn't work out so eventually I had to buy Keith out and do it myself. But when I took over I had no idea what sort of trouble it was in. It was losing $650,000 a month and it just felt like I was opening my window and throwing piles of money into the ocean."
Just four months into the partnership, Vaughan Bullivant bought out partner Keith Williams and became the sole owner of Daydream Island. He immediately embarked on a $40 million refurbishment.
"Daydream Island cost me twelve and a half million but that left me about $120 million and people say how could you possibly spend $120 million. Well it's been very easy and I wish I had another $120 because that's gone, almost. Probably about $16 million dollars has gone on building two houses and then I've bought Versace Units. I bought six Versace Units. So we spent about $12 million on those and a couple of million on Versace furnishings and I've bought couple of blocks in Noosa and I've got a unit in Mooloolaba and I've bought one for my son. Doing my daughter a five million-dollar house on a two million-dollar block of land. And what else have I spent my money on, oh my ex wife I gave her something because I felt that she helped me get going in the early years when we used to live on minced meat and scrambled eggs. Another thing a three million-dollar plane. I forgot about that. I don't know. I've bought a boat. Yeah I bought a boat that's worth two and a half million."
Finally, for the first time in many years, Daydream island is running at a profit. How much it is making is unclear but a spokesman for Bullivant claimed the net operating profit for 2006 was up $7.6 million from 2002-2003 figures, with room occupancy up 55 per cent from the previous year. The island has recently won several of the tourism industry's major awards, including Best Deluxe Accommodation in the 2005 Whitsunday Tourism awards and 2004's Queensland Tourism Chairman's Award For Excellence.
As for Bullivant, he's just relieved no one's laughing at him.
close window