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Do you know where your visitors are coming from? I am asking because if mainly australian based, you could get similar results with the australian domain, otherwise people might be put off.
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Yes, I 80% of my visitors are Aussies. I do have cheapholidayaccommodation.com.au so this is another option as an alternate domain to launch the website on.
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Will the 200K+ pages all be business listings? Do they bring much to your site in terms of quality info for your visitors?
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There is over 130,000 business listings and each which will have a google maps, add comments form and the ability to email the businesses on each page so the pages wont just be the business details for the sake of adding a page. They will act as a reference or guide for people wanting to get in contact with businesses in the tourism industry to further book or arrange activities for their holiday.
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I would launch the new site on a new domain / the other domain. But I would do this only if the content is different enough to not penalise your old site
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Yeah besides the accommodation listings which for the most part have to list the same facilities, features and description everything else will be unique content.
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By having two site you get a bit more work to update both, but you also have a 'security' blanket if one falls over.
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thats great - thanks everyone for all your advise. I will upload on a new domain with the new website.