NORTHERN FIJI’S PATH TO ECONOMIC PROSPERITY
NORTHERN FIJI’S PATH TO SUSTAINABLE GROWTH AND PROSPERITY BEGINS WITH THE NATEWA RUNWAY. WITH A FREE SKIES POLICY, WE CAN BOOST AVERAGE OCCUPANCY RATES FROM BELOW 50% TO 80%, A STIMULUS FOR THE TOURISM SECTOR AND UNLOCKING FUTURE DEVELOPMENT. THIS RUNWAY WILL SERVE AS THE CATALYST THAT CONNECTS AND ENERGISES THE ENTIRE NORTHERN REGION — FROM TAVEUNI TO SAVUSAVU — WHERE COMMUNITIES WILL BE POWERED BY RENEWABLE ENERGY.
SUPPORTING THE TOURIST SECTOR WILL PROGRESSIVELY LEAD TO JOB CREATION AS WE DELIVER AUTHENTIC, REGIONAL TOURISM. WE WILL ESTABLISH MARINE PROTECTED AREAS (MPAS) TO ENSURE SUSTAINABILITY, WITH REMUNERATION FLOWING TO QOLIQOLI SECURITY TEAMS WHO SAFEGUARD OUR NATURAL RESOURCES. AS A CATALYST FOR CONSTRUCTION BUILDING MATERIAL ROYALTIES WILL FLOW TO THE RESPECTIVE MATAQALI LANDOWNERS.
TOGETHER, THESE INITIATIVES FORM A BLUEPRINT FOR A GREENER, MORE PROSPEROUS, AND SELF-SUSTAINING NORTHERN FIJI — WHERE DEVELOPMENT AND CONSERVATION WORK HAND IN HAND TO BUILD A BETTER FUTURE FOR ALL.
CENTRAL LOCATION
THE PROPOSED NATEWA RUNWAY IS PROXIMATE TO SAVUSAVU’S 400 ROOMS AND WITH DEEPWATER ACCESS IT WILL SUPPORT 220 ROOMS IN TAVEUNI ISLAND AND THE RESORTS IN KORO ISLAND AND NAMENA ISLAND. THE LOCATION IS CENTRAL TO THE RENEWABLE ENERGY POWER CORRIDOR WHICH WILL SUPPLY THE SAVUSAVU TOWN CENTER WITH POWER SUPPLIED BY HYDRO TAVEUNI.
EXAMPLE IMPACT: OCCUPANCY RISING FROM 50% TO 80% ON 620 CURRENT ROOMS WILL RESULT IN $13.6M OF INCREMENTAL DEPARTURE TAXES
CASE STUDY 1. - IMPACT ON EXISTING RESORTS
KORO SUN RESORT COMPRISES 56-ROOMS AND ITS UNDERPERFORMANCE CAN BE DIRECTLY ATTRIBUTED TO THE HIGH COST AND LACK OF DOMESTIC FLIGHTS. THE NADI AND DENARAU PROPERTIES ACHIEVE OCCUPANCY ABOVE 80%.
EXAMPLE IMPACT: AT SUCH LOW OCCUPANCY THE RESORT IS FOR SALE AT LESS THAN IT’S REPLACEMENT COST DETERRING NEW DEVELOPMENT. AT 80% OCCUPANCY THE OPERATING PERFORMANCE OF THE RESORT WILL SIGNIFICANTLY IMPROVE AND PROVIDE STRONG INVESTMENT RETURNS FOR INCOMING FIJIAN INSTITUTIONAL INVESTORS.
CASE STUDY 2. - A CATALYST FOR NEW DEVELOPMENT
THE SEREVI INTERNATIONAL ACADEMY OF RUGBY WILL BE CO-LOCATED WITH THE NATEWA RUNWAY. THE ACADEMY IS PROPOSED FOR A 10-ACRE BEACHFRONT LOCATION ALONG THE HIBISCUS HIGHWAY. THE ACADEMY IS MODELED ON AN 80-ROOM RESORT BUT INCLUDES 2-PLAYING FIELDS, FEATURES A LAGOON POOL WITH AN OLYMPIC-LENGTH LAP POOL, A GYMNASIUM, A DIVE ACADEMY TO PREPARE PLAYERS FOR CAREERS AFTER RUGBY, A SAILING ACADEMY FOCUSED ON VOCATIONAL SKILLS AND QUALIFICATIONS, HORSE STABLES SUPPORTING AN ADVENTURE TOURISM MICRO-BUSINESS PROTOTYPE, A SPA AND SPORTS THERAPY FACILITY, AND TWO RESTAURANTS AND A CAFÉ.
EXAMPLE IMPACT: THE ACADEMY IS PROJECTED TO COST FJD$40M, A STAGED DEVELOPMENT WITH THE FIRST STAGE TIMED TO OPEN WITH THE NATEWA RUNWAY.
CASE STUDY 3. IMPACT ON PROPOSED RESORTS
CONSTRUCTION WILL SOON COMMENCE ON A TAVEUNI OCEANFRONT RESORT. THE FIRST STAGE AS SHOWN IN THE RENDER COMPRISES A RESTAURANT AND 10-ROOMS. THE DEVELOPER WILL WAIT UNTIL THE MATAI AIRPORT CAN SUPPORT AN ATR BEFORE EXPANDING BEYOND THE INITAL 10-ROOMS. ON COMPLETION THE PROJECT WILL COMPRISE A 100-ROOM BRANDED RESORT, ESTIMATED BY RAWLINSON TO COST FJD$50M AND PROJECTED BY MARRIOTT TO OPERATE AT AN NOI OF FJD$9.5M ASSUMING A 66% STABILIZED OCCUPANCY.
EXAMPLE IMPACT: THE NATEWA RUNWAY WILL INCREASE OCCUPANCY TO 80% AND ADR BY 10% ALMOST DOUBLING THE NOI AND RESORT’S ECONOMIC VALUE.
