According to The Australian: "In the boom, developers The Ray Group and failed company MFS (now Octaviar) promised that the $130 million resort would become the pride of Port Douglas, with guests paying a minimum of $1000 a night and investors securing returns of as much as 7 per cent. But the 50-odd owners who bought into the development have instead seen room rates fall to as little as $200, which meant once bills were paid they were effectively paying guests to stay at the property.
"Resort operator Mantra has distanced itself from the closure, saying that it had no interest in the owner of the resort's management rights, Port Douglas Resorts Pty Ltd."
