Sheraton set for Brisbane return
An artist's impression of the planned Four Points By Sheraton. Photo: Supplied
International hotel brand Four Points by Sheraton has struck a deal with a Malaysian mining billionaire to open a 32-storey hotel tower on Mary Street in Brisbane's CBD by January 2014.
Starwood Hotels & Resorts, which owns the Sheraton name, has signed a long-term operating agreement with Paul Chong's family-run Felicity Hotels group to manage the 246-room hotel.
Named Four Points by Sheraton Brisbane, the development will be the first internationally branded, new-build hotel property launched in the city in the last 10 years.
Following the opening of Four Points by Sheraton Perth in June 2012, the Brisbane property also marks the expansion of Sheraton across Australia partly inspired by the growing need for accommodation in cities hit by the mining boom.
Last year, Brisbane's Lord Mayor Graham Quirk said an accommodation shortfall was costing the city, and announced a moratorium on infrastructure charges to stimulate four- and five-star hotel and motel development.
While Cr Quirk welcomed the news today, he said the city needed an additional 300-plus hotel rooms a year to meet the current demand.
“This investment by Starwood Hotels & Resorts and Felicity Hotel reinforces the opportunities for hotel investors into Brisbane,” he said.
“It is also perfect timing for Brisbane as the city gears up to host thousands of delegates who will attend the G20 Leaders Summit in our city in November 2014 and it means we are even better positioned to comfortably accommodate everyone.”
A recent Jones Lang LaSalle Hotels' Hotel Investor Sentiment Survey ranked Brisbane the fourth most sought-after location for hotel acquisitions in the world.
Starwood Asia Senior Vice President Acquisition & Development Matthew Fry said the city's boom-town reputation was well known.
“We have been seeking an opportunity in Brisbane's sought after business district for a while now,” he said.
“Brisbane is a thriving business city on the east coast of Australia, and we look forward to working with our valued stakeholders to ensure Four Points by Sheraton Brisbane is the city's leading select-service hotel in terms of its location, comfortable accommodation and extensive business facilities.”
Designed by Brisbane-based Noel Robinson Architects, hotel will be located at 99-103 Mary Street and plans to cater for both business and leisure travellers alike.
Room sizes will average 27 square metres and hotel facilities include an all-day restaurant, a cafe bar and 200 square metres of function space.
Other key hotel developments recently announced for Brisbane include a $35 million refurbishment of the Chifley at Lennons, a boutique hotel as part of Leighton's Mosaic development in Fortitude Valley, and the Mantra-managed Dunmore Hotel on Brunswick Street.
The Brisbane Sofitel, above Central Station, was previously a Sheraton Hotel.