Tony Fung seeks to buy Pullman Cairns hotel for $60m

Tony Fung, the Hong Kong billionaire planning an $8.15 billion integrated resort for Queensland, is seeking to buy the Pullman Cairns hotel for about A$60 million ($52.6 million), according to local media.
The 321-room hotel is being sold by Ascendas Hospitality Trust and hotelier Robert Magid.
Magid said the hotel does not fit with his other boutique hospitality offerings.
As well as seeking a license for the Aquis integrated resort, Fung is also in the process of buying the Reef Casino Trust.