Yatu Lau Company Limited is contemplating potential collaborations with international brands due to economic factors, according to Chairman Viliame Leqa. However, any decision regarding this partnership may occur later.
In response to inquiries about outsourcing management for the group’s tourism properties, Leqa stated that the claims were new information to him. He indicated that there are currently no plans to outsource the management of their hotel properties to any overseas brand, although the company may explore such opportunities in the future, primarily for economic reasons. He also suggested referencing Fijian Holdings Limited and Fiji National Provident Fund to understand global business models related to brand and management outsourcing.
SunBiz reports that another local tourism management operator is under consideration after preliminary discussions with Parkside Hotel Group regarding resort management.
The consideration of outsourcing to a global brand has raised concerns among local employees at Yatu Lau, as some fear job losses.
An email from Yatu Lau’s Chief Financial Officer Indika Weerasekara to several executives, including Leqa, disclosed that Parkside Hotel Group had proposed a “more profitable” proposal to manage the Lagoon resort. Parkside Hotel Group claims operations in multiple countries, including the USA, UK, and several Asian nations, and lists Fiji among its operational territories.
The Registrar of Companies indicates that Parkside Hotel Group Fiji was established last year with directors Viliame and Pramod. Local director Viliame Rodan confirmed that he distanced himself from Parkside two to three years ago, despite his name still appearing as a director. He mentioned he travels internationally as a consultant and has attracted investors, having accepted a more lucrative offer in Dubai. Rodan characterized Parkside as being owned by Pramod J Patel, who resides in America.
Due diligence reveals discrepancies with Parkside’s registration in the UK. A draft agreement dated July 1, 2024, shows the company listed at Kemp House, London, but records indicate it was dissolved in June of last year. The UK Companies House documents reflect changes in key ownership details associated with Parkside.
Parkside associates with major brands like Air France and Disney and claims management of over two dozen properties. Communication regarding Parkside’s proposal indicated it could be financially beneficial concerning the Lagoon property, leading to discussions about potential management agreements.
The Lagoon Resort, located in Deuba, is one of three properties owned by Yatu Lau Company, which was established in 1972 as an investment vehicle for residents of Lau, expanding its shareholder structure in 2007 to include non-Lauan members.
Weerasekara conveyed that Parkside Hotel Group’s profitability would benefit Yatu Lau’s Lagoon property management. He confirmed ongoing discussions with PJ Patel from Parkside about potential management agreements.