Originally Posted by rick253

Not sure if any of the villas have reopened, but basically it was a victim of a boom property market and high maintenance costs.
Villas were sold on the premise of being rented out for $1000 a night. Now that was never going to happen. At the end they were renting for $200 a night, which apparently did not cover costs. Port Douglas has been doing it tough, with far fewer tourists and considerable declines in property values.