Sydney’s $500m Ritz-Carlton hotel a step closer
The Star Entertainment Group’s plans to return the high-octane luxury hotel brand Ritz-Carlton to Sydney have moved a step closer with the lodgement of a development application for a $500 million-plus hotel and residential tower.
In partnership with Hong Kong-based Chow Tai Fook and Far East Consortium, the casino group has hired Richard Francis-Jones of FJMT to design the tower, which sits within The Star Sydney’s existing design blueprint at Darling Harbour.
A feature of the 220-room hotel is four double-height penthouse-style hotel rooms with two levels apiece ranging up to 270sqm in size.
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The development comes as STR research reveals Sydney hotel occupancies and room rates dropped to 10-year lows in July due to the lack of major events within the city. The new tower will add to the Pyrmont-Darling Harbour precinct near the new Sydney International Convention Centre, where the nearby Sofitel is performing strongly.
Star Entertainment chief executive Matt Bekier says the development will deliver significant benefits for Sydney.
Despite the city’s softening hotel occupancy levels he is bullish about the hotel’s prospects, citing growing international short-term visitors to Australia, which are forecast to hit 15 million by 2027, up from 8.3 million this year.
An artist’s impression of what the planned Ritz-Carlton Hotel and Residential Tower at The Star Sydney will look like. Picture: Supplied.
“This country is experiencing significant growth in inbound tourism, an upward trend which shows all the hallmarks of continuing well into the future,” he says.
Star plans 200 residential apartments beneath the Ritz-Carlton hotel tower, plus about 15 food and beverage outlets. Two of the three swimming pools will sport harbour views and Star also plans a signature restaurant and sky terrace within the 61 level tower.
The move comes as the listed Crown Resorts faces the spectre of delays at its own $2.2 billion casino hotel.
The James Packer-backed Crown has gone to the NSW Supreme Court to seek an injunction against the NSW government’s Barangaroo Development Authority to prevent it approving a rival development that would block views from its tower.
Crown is concerned about the excessive height of buildings proposed for the new Central Barangaroo precinct, led by Daniel Grollo’s Grocon. It argued the loss of views could deter tourists from staying at its luxury hotel.
The case will be in the NSW Supreme Court on August 31.
– with Ben Wilmot
This article originally appeared on www.theaustralian.com.au/property.
