Paul Picone – Gold Coast Businessman & Entrepreneur

Paul Picone is a well-respected Gold Coast businessman and entrepreneur. He currently owns and operates the prestigious Artique Resort – Surfers Paradise, and Ocean Pacific Resort, South Pacific Plaza and Belle Maison – all located in Broadbeach.

As the Founder and Manager for the Icon Resort Apartments Group, Paul is no stranger to the hospitality industry and tourism on the Gold Coast. 

Paul Picone has extensive knowledge of all facets of the management- rights industry. He is actively involved in his local community, providing specialist knowledge throughout the lifecycle of management rights for the resorts he owns and operates. Across the Gold Coast, Paul’s businesses include holiday, short-term and residential resorts.

He is an astute business operator who has a keen eye for detail. Paul Picone operates his enterprises with due diligence, devising and implementing strategy, fostering partnerships and endorsing local tourism.

His focus on developing life-long partnerships with like-minded industry professionals will ensure the future of tourism, and resort-style accommodation on the Gold Coast is both promoted and preserved.

Paul Picone’s Resorts

Picone Family

Paul’s solid understanding comes from having actively worked in the operational areas of his father’s businesses since the 1980s. With the right mix of negotiating skills, diplomacy and marketing prowess, Paul has surrounded himself with a team of professionals, working closely to ensure the portfolio’s performance. 

Paul’s humble beginnings stem from his involvement in the family business. He is the eldest son of the highly respected Frank Picone, arguably one of the most prominent independent owner-operators on the Gold Coast in the 1980’s.

The Picone Family have owned and operated management rights on the Gold and Sunshine Coasts since 1985. Across the last 35 years, they have built a portfolio that has included some of the Gold Coast’s most successful prestige apartment buildings and resorts. Paul has been associated with many of these leading properties.

Resort Involvement

Paul Picone has been involved with the following resorts throughout his time on the Gold Coast and Sunshine Coast – (either actively as owner/operator or as a key partner in his father’s business):

• Ocean Plaza Resort (Coolangatta)
• Gemini Court (Burleigh Heads)
• Phoenician Health and Spa Resort (Broadbeach)
• Diamond Beach Resort (Broadbeach)
• Carmel By The Sea (Broadbeach)
• Rise Apartments (Noosa)
• The Coolum Beach Retreat (Coolum)
• Shearwater Resort (Caloundra)
• Swell Apartments (Burleigh Heads)
• Freshwater Point and The Wave (Broadbeach), and finally, 
• The Beach (Cabarita NSW).

High Profile Acquisitions

Diamond Beach Resort

The high profile Diamond Beach Resort (Broadbeach) has been arguably the most successful management letting rights resort throughout the nineties. Paul Picone’s role as General Manager of Diamond Beach Resort saw him build up this business to such a success that it was seen as a target for acquisition. The eyes of “BreakFree Resorts” (now the Mantra Group) were keen to add this resort to their portfolio of family-friendly holiday resorts. BreakFree Diamond Beach is now one of Mantra’s 135+ properties!

Broadbeach on the Park

Frank and Paul Picone proceeded to purchase the Golden Rainbow Motel on the Gold Coast Highway at Broadbeach. They later demolished the old motel to develop the new Broadbeach on the Park. This too was sold to BreakFree Resorts. Following the acquisition of many key “Picone Family” properties by BreakFree, Paul Picone became the General Manager of Resorts for the BreakFree Group, having responsibility for the operational activities of all BreakFree owned properties.

Aqua Vista Resorts

After being part of the team that saw BreakFree float on the stock exchange in 2002, Paul Picone returned to owning and operating his own management rights portfolio. Paul formed Aqua Vista Resorts, comprising management letting rights for properties on the Gold Coast as well as the Sunshine Coast.

Chevron Renaissance

In 2009, Paul’s father, Frank Picone, purchased the letting and management rights to the Towers of Chevron Renaissance which had been the Gold Coast’s largest strata-titled resort. With Paul Picone inserted as General Manager, the performance of the Towers of Chevron Renaissance was nothing short of outstanding. Paul’s brothers – Jason and Craig also joined the family business. The expert administration of this resort resulted in its recognition as the largest and most successful management letting rights on the Gold Coast prior to its sale to the Mantra Group in September 2015.

The Icon Portfolio

In the same year, Paul Picone also became an equal share partner in PCJ MR Pty Ltd. The Picone Family, including patriarch Frank Picone and brothers Paul, Jason and Craig, went on to purchase the management letting rights to Synergy Broadbeach, Qube Broadbeach and Boardwalk Burleigh Beach.

The amalgamation of the Picone Family into the current Icon Resort Apartments brand is the driving force behind the group today.

Paul Picone says his secret of success is his business maintains a very flat structure. Paul continues to involve himself at all levels with a very open and hands-on approach. He believes in an open-door policy where employees, Body Corporates, and apartment owners can communicate with him directly. He always takes on board feedback to improve his portfolio and ensure it remains an honest and stable business that investors can rely on.