karma

That admirable paper the POST has done it again: more news about the beautiful island this week.

A SUCCESSFUL GLOBAL timeshare and resort developer will throw his hat into the ring for the new Rottnest Island hotel.

John Spence, who is based in Subiaco and runs Karma Resort Group, is looking at building new reports in the Bahamas, Canada, the Philippines, Croatia, Sri Lanka - and Rottnest.

The Rottnest Island Authority called for new tenders for a new hotel on Mt Herschel in November: they close at the end of the month.

"We have received none, as the procurement process is still open," an Authority spokeswoman said this week.

But Mr Spence will complete a tender.

"I'm not sure how much of a story I can give you until the tender closes," he said.

"I'm very cautious of going to the media before it closes, as I'm also a commissioner on the board of Tourism WA."

But in a trade magazine Mr Spence is more forthcoming.

"...we are strong bidders to develop Rottnest Island in Perth," he told time-share magazine Perspective last month.

"Rottnest is an icon for Perthites: KRG is hopeful of launching the contract.

"We could never have done that as a pure time-share company."

Mr Spence started his first time-share in the 1990s in Goa, India.

Now KRG has resorts in Thailand, Indonesia, Greece and Australia.

The company is working on developing an all-villa resort in Margaret River, which includes a private air strip.

Mr Spence told Perspective his favourite quote is one by US businessman and investor Warren Buffet: "When people are greedy be fearful and when people are fearful be greedy."