John Spence

Will unparalleled levels of investment at Rottnest Island deliver for the island’s businesses and for the state? Russell Quinn reports.

A DECADE after proposing a resort development in Margaret River and one year on from losing a bid to develop a new Rottnest Island resort in Longreach Bay, Karma Royal Group has finally locked in business in Western Australia, taking control of the Rottnest Lodge.

John Spence is one of a handful of operators prepared to invest in WA tourism despite difficult market conditions.

Two Melbourne-based foreign exchange brokerage founders have been named the Ernst & Young 2014 Australian Entrepreneurs of the Year, with Aurora Oil and Gas founder Jonathan Stewart also being named one of six category winners.

Tourists may soon get another option for lodging at Rottnest Island, with the state government putting out the call for operators to develop a resort and marina at Thomson Bay.

Karma Resorts’ plan to spend $20 million redeveloping the Rottnest Lodge into a resort-style hotel are a step closer to being realised, with lease negotiations finalised with the state government today.

SPECIAL REPORT: There has been a major shift in business influence in WA amid waning international investment and, with two elections on the way, there is a prospect of even bigger changes in political influence. Click through to see our listing of WA's most infliential leaders in politics and business.

The chairman and co-chief executive of a Melbourne-based toy company has become the first Australian to be selected as global winner of EY’s Entrepreneur of the Year award.