Paul Picone is the eldest son of the highly respected Frank Picone, arguably one of the most prominent independent owner/operator of many management letting right businesses on the Gold Coast since the early 80’s. The Picone Family have owned and operated management rights on the Gold and Sunshine Coasts since 1985 (almost 35 years) and built a portfolio that included some of the Gold Coast’s most successful prestige apartment buildings and resorts.
Paul Picone has extensive knowledge in all facets of the management letting rights industry having actively worked in the operational areas of his father’s businesses since the 80’s before partnering with Frank in key projects such as opening the high profile Diamond Beach Resort (Broadbeach, Gold Coast); arguable the most successful management letting rights resort of the 90’s. Paul Picone’s role as General Manager of Diamond Beach Resort saw him build up this business to the level that it was seen as a key target acquisition for the then “BreakFree Resorts” (now the Mantra Group) who purchased the resort from Paul and Frank Picone.
Frank and Paul Picone also purchased the Golden Rainbow Motel which they later demolished to develop the new Broadbeach on the Park. This too was sold to BreakFree Resorts. Following the acquisition of key “Picone Family” properties by BreakFree, Paul Picone was engaged by BreakFree as the General Manager of Resorts; responsible for the operational activities of all BreakFree owned properties.
Paul Picone’s Resorts
Other resorts Paul has been involved with (either actively as owner/operator or as a key role for his father Frank’s business) include:
- Ocean Plaza Resort at Coolangatta
- Gemini Court at Burleigh Heads
- Phoenician Health and Spa Resort at Broadbeach.
Shortly afterwards, the following resorts were added to the portfolio 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).
After being part of the team that saw BreakFree float on the stock exchange, Paul Picone returned to owning and operating his own management rights portfolio and formed Aqua Vista Resorts. Aqua Vista Resorts consisted of management letting rights properties on the Gold Coast as well as the Sunshine Coast and, in 2010, were to become what is now known today as Icon Resort Apartments.
Icon Resort Apartments is a business founded by Paul Picone as the consumer brand for his Freshwater Point Management and Aqua Vista Management Pty Ltd entities.
Paul Picone still owns outright and operates four resorts within the Icon group today. These are Artique Surfers Paradise, and Ocean Pacific Resort, South Pacific Plaza and Belle Maison in Broadbeach.
In 2009, Frank Picone purchased the letting and management rights to the Towers of Chevron Renaissance which was the Gold Coast’s largest strata titled resort. With Paul Picone engaged as General Manager, it clearly stood out as the front runner in its performance and was recognised as the largest and most successful management letting rights on the Gold Coast prior to its sale to the Mantra Group in September 2015.
In the same year, Paul Picone became an equal share partner in PCJ MR Pty Ltd with the remainder of the Picone Family, the patriarch, Frank Picone, and his brothers, Jason and Craig, after the purchase of 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’s secret to success is that his business maintains a very flat structure and Paul continues to involve himself at all levels with a very open and active involvement. He believes in an open door policy where employees, Body Corporates and apartment owners alike can communicate with him directly. He always welcomes feedback to improve his business and to ensure it maintains his portfolio as an honest and stable business that can be relied upon.