The famous Versace fashion house is officially parting ways with its branded Gold Coast hotel.
Owners of the iconic Palazzo Versace at The Spit near Marina Mirage have confirmed the branding agreement with the luxury fashion brand will not be renewed.
It’s understood a new deal could not be reached and will therefore see the initial agreement come to an end when it expires midway through this year.
It comes amid reports the international fashion powerhouse chose not to renew its branding agreement because the hotel was not kept up to “Versace standards”.
As a result, the waterfront hotel will be stripped of its famous Medusa tiles and other furnishings.
However, private condo owners admit they are looking forward to the hotel undergoing a refresh and rebrand, estimated to cost close to $60 million.
There are only two Palazzo Versace hotels in the world, one here on the Gold Coast and the other in Dubai.
