LUXURIOUS hotel Rae's on Wategos Beach at Byron Bay has been put on the market for the first time in 20 years by entrepreneur Vincent Rae. It will be auctioned on October 26 at 2pm. Rae's has seven individually styled penthouses and suites, a 60-seat restaurant and is acclaimed for its eclectic European interiors and architecture, lush gardens and sweeping ocean views. Conde Nast Traveler magazine placed Rae's in its "Top 25 Hotels in the World". Its guests have included Harvey Keitel, Gwyneth Paltrow, Kate Winslet, Tom Cruise, Meg Ryan, Russell Crowe, Keith Richards, Pink, Elle Macpherson and Nicole Kidman.