Tom Cruise and Katie Holmes are on the move again and old friend James Packer is helping them find a place to stay. The Australian billionaire is offering the couple his private suite on the 39th floor of the Crown Towers hotel complex while they are in Melbourne next month. Katie Holmes will be in Australia filming the production of the horror movie Don't Be Afraid Of The Dark. The large suite is being renovated for the Cruise family and the Daily Telegraph reports that an equivalent suite rents for $27,500 a night.

Australian yacht builder Azzura Marine has just launched its new $1.5 million Marten 49, a sleek-lined, super-stylish cruiser-racer with a carbon fiber hull, bulkheads and deck. Designed for maximum flexibility, maneuverability and luxury, the 49-ft. yacht's innovative hydraulic lifting keel improves performance when racing and reduces draught for accessibility to harbors and anchorages when cruising. The yacht, billed as the ultimate dual purpose vessel, features a teak interior with a master cabin equipped with a double bed, separate en-suite bath and shower, two guest cabins, a comfortable saloon and fully-equipped galley.

Looking for a new investment? Yarra Yering Winery near Melbourne, Australia is up for sale and bids are due in just a few weeks. The three-level, 150 ton winery which produces up to 7,000 cases per year spans approximately 36.4 hectares with 73% of that property planted with low-yielding vines. Especially known for their intensity of flavor and longevity, Yarra Yering wines typically sell for $50 to $105 and range from Cabernet Sauvignon, Shiraz, and Pinot Noir to Chardonnay, Merlot, Viognier, a number of blends and several Portuguese varietals. If you're considering your own bid on this well-known vineyard just know you'll have to contend with about thirty interested buyers across Australia, England, France, Canada, Singapore and Hong Kong.

Australian luxury yacht builder Oceanfast is offering its new 157-ft. semi-custom superyacht for sale at $22 million with a July delivery. The sleek fiberglass hull ship has a top speed of 16 knots and 4,000 nautical mile range at a cruising speed of 12 knots via twin diesel engines, and can accommodate 10 guests and 10 crew. A teak lined aft deck leads into a full beam saloon surrounded by huge windows offering panoramic ocean views. The large teak lined external deck can be used for intimate dining or a larger party in combination with an indoor-outdoor lounge area connected via fully opening bi-fold doors.

The latest story of resort trouble takes us all the way to Australia where the Hunt Resort on Fitzroy Island has been placed into receivership as the latest victim of the tourism slowdown. The $100 million Hunt Resort on Fitzroy Island only opened last December but owner Joshua Hunt owes money to several different places including around $50 million Australian to BankWest. The luxurious resort remains open. The news comes as Queensland is making a big push for tourism in the area.

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Here's a small taste of what's on offer. You can cruise the Rhône on Le Phenicien, an 18-passenger luxury barge, stopping at the Seve Ballesteros–designed Pont Royal Golf Club, the Châteauneuf-du-Pape winery and the cheese-making village of Epoisses. Or you can fly to Edinburgh and play such classic links as Carnoustie and the Old Course at St. Andrews and dine at Andrew Fairlie at Gleneagles, the only restaurant in Scotland to have earned two Michelin stars. For more information, visit perrygolf.com.

London has its Eye and now Melbourne, Australia has its own way to take in the view. The Southern Star observation wheel opened on December 20, 2008. It is located at Waterfront City in Melbourne Docklands and is the first giant observation wheel to be built in Australia. The seven-pointed star is as high as a 40-story building and has 21 cabins which can hold 20 people each. Flights are generally a half hour long and it is open 365 days a year. You can rent a cabin for up to 20 guests (they even do weddings) and have it catered for $800. Sunset flights and new moon flights are particularly popular. There is also a special Cupid Cabin just for two for Valentine's Day which will be outfitted with roses, Champagne and snacks for $695.

The Australian government recently had a mighty task, finding new names for Sherry and Tokay, the fortified wine names that Australia agreed to stop using since they apply to specific European wines. Sherry will now be called Apera, a name meant to suggest an aperitif, and Tokay will be known as Topaque. The new names have been registered with the trademarks body, IP Australia and if confirmed Apera will be on the market next year. Sherry will be phased out in 2010 but Tokay producers have a full ten years to changeover.

it took 10 months of research to come up with the names which beat out other contenders such as Solzay for Sherry and Russet for Tokay. Fortified wine maker Colin Campbell of Campbell wines which makes The Cellar Tokay, tells the Australia Age he sees the name change as an opportunity to get more Australians interested in fortified wine. Is it just me or do the new names sound more like mid-size sedans than drinks?

I don't often cover estates in Australia but this one is worth special mention. Larundel is an expansive estate of nearly 2500 acres in the area of Cargerie near Ballarat in Victoria. The estate was established in the 1870s and the property was, according to The Courier, a fine wool operation. The home has been restored and includes a library, billiard room, sitting room and reception rooms. The property also includes a four-bedroom guest house converted from the former stables, a polo field, 4000-bottle wine cellar, airstrip and helipad, croquet lawns, tennis court and a manager's cottage. It is expected to fetch around $20 million Australian.

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Australia's Tourism Queensland has found a new way to attract attention to the Great Barrier Reef. They are offering a job with a six-figure salary to one lucky applicant. It's billed as the "best job in the world" and comes with a three-bedroom home to stay in that has a pool. The job duties involve taking pictures, making video updates, blogging and doing media interviews all while exploring the Great Barrier Reef. The job pays $150,000 Australian for just six months and the only requirements are that you be enthusiastic, media-friendly and love to swim and snorkel. A nice marketing idea and a great gig for one lucky traveler. To apply you need to send a short video on why you want the job and fill out the online application form at www.islandreefjob.com Applications close on February 22.

[via CNN]

UPDATE: The winner has been announced, Ben Southall from England will be enjoying six months of Great Barrier Reef bliss.

Way back in 2004 Nicole Kidman bought herself a yacht for Christmas, picking up the Sunseeker 74 named Hokulani for $4.5 million. Times have changed for Kidman, who has left her boat in a marina in Sydney, Australia. The Independent reports that locals are angry because when Kidman sold her harborfront apartment she left her yacht still moored in the marina reserved for residents. She still owns a waterside mansion elsewhere in the Sydney area. A spokesman said that the boat was left in the marina because she was planning to pick up another apartment in the area. That didn't happen and he spokesman says the yacht will be moved. Some are concerned that Kidman has gotten special treatment because she is a celebrity. Kidman is reportedly in Nashville licking her wounds after the failure of her latest movie "Australia" but she should consider flying to Sydney and picking up the boat. After all, a summer cruise on a five cabin luxury yacht can turn almost any frown upside down.

[via Huffington Post]

Last year Louis Vuitton made the luggage for "The Darjeeling Limited," this year its Prada that gets the big movie tie-in with their luggage for the film "Australia" Prada created the comprehensive luggage that Nicole Kidman totes (or rather, has toted for by a team of porters) in the Baz Luhrmann epic. The luggage was made "a unique goatskin material" and was crafted in the same ways that the Mario Prada, the founder of the company, used almost a century ago, pulling the leather over wooden frames and gluing and stitching by hand. The luggage includes trunks, suitcases, hat-boxes, vanity cases and even a picnic set. A selection of traditional suitcases and vanity cases virtually identical to the set made for 'Australia', is part of Prada's Pergamena luggage collection.

One enterprising Australia-based yacht seller has found a new way connect their customers with boats in the U.S. Boats are cheaper here in the States so Yarra's Edge Yachts has created the Trans Pacific Yacht Rally. Yacht buyers will purchase a yacht from their brokerage of second-hand yachts, fly to La Paz, Mexico for the "Scrutinizing weekend" and then prepare and provision their new yacht for a Valentine's Day departure across the Pacific. The route will use the trade winds and make many scenic stops which will also allow for flying home or for crew changes. The rally will end in Queensland, Australia on October 11, 2009. Vessels range from 36' to 60' and $47,500 to US $350,000. The 40' Passport Sloop shown here is listed at $152,250.

[via Sail World]

The U.S. isn't the only place that financial titans run amuck. Above is a picture of the 82-foot sailing yacht Sirius which is a vessel belonging to Peter George, owner of the failed $200 million Elderslie Finance Corporation. As The Austrailian News reports, George, has put his yacht on the market with an asking price of $2.975 million Australian (around $2.5 million U.S.). George could get the proceeds of the sale within months but Elderslie's 10,000-plus investors won't be so lucky. They may have to wait years to see any money from the wind-up sale of Elderslie's assets. According to the article, PricewaterhouseCoopers has said that Elderslie investors may wait several years and could recover less than 40 cents on the dollar.

The Sirius is a custom sloop built in Brittany, France in 1987 by Dynamique Yachts. The listing at Ensign Ship Brokers says that over $5 million was spent on refurbishment and to allow sailing without a large crew. The sails are are self furling on a press button system and the main sail is hoisted and furled by an hydraulic push button arrangement. The wing keel design allows the boat to go into shallower waters than most boats her size.

The Australian reports that Mr George had also been a director of EC Consolidated Capital, a company that was accused of stealing millions of dollars from investors and liquidated in 1997. And they report that Elderslie's collapse had much to do with shady investments by Mr. George in companies he either owned or was associated with.

It has not been revealed if the Sirius was bought with Elderslie funds or if any part of the sale will benefit former investors. The story reminds me a little of that of the Endeavor, the beautiful sailing yacht once owned by former Tyco CEO, L. Dennis Kozlowski. Listing pics of the Sirius are in the gallery below.