The theme park is still recovering from the lockdowns, which closed the park for months, the recent loss of its chief executive, John Osbourne, as well as the deaths of four people on one of its rides in 2016.

Today it announced it would create a four-star, 250-room hotel, 40 bungalows and a tourist park with 100 sites. Restaurants, conference facilities, pools and a gymnasium would also be included.

New chief executive Greg Yong said Evolution Group would develop the project on surplus land adjacent to the theme park.

“The hotel and tourist park will complement Dreamworld as a premium entertainment destination and add a new level of convenience for guests who will have our theme park and water park on their accommodation’s doorstep,” Yong said.

He said it was another positive step in Dreamworld’s recovery and it would have a significant economic impact not just on its own theme park, but the broader tourism sector.

Developers Evolution Group recently finished the Airport Rydges Hotel on the Gold Coast and Yong said they would bring a wealth of knowledge and experience.

“Relying on an experienced partner to execute this project will also allow the Dreamworld team to continue focusing on future investments in the theme park’s attraction portfolio, including the launch of Steal Taipan in late 2021,” Yong said.

The project still needs to get planning approvals for the. project.