Amid a spate of press releases today – all announcing the manifold benefits of having millions of dollars dropped on us by world leaders attending the G20 Summit in November, Brisbane Marketing included an update on the new hotel rooms being created in River City. The press release carefully avoids pointing out that the headline development by Fraser’s Group will not be open in time for G20. But you get the general drift – Brisbane is open for business as Australia’s New World City.
Lord Mayor Graham Quirk has announced that Singaporean group Frasers Hospitality has been given development approval to convert a CBD office tower into a 239 room hotel.
The property, at 80 Albert St, was purchased mid last year and is the first Brisbane asset for Frasers Hospitality, which has 86 properties in 45 key gateway cities and more than 15,000 rooms worldwide.
Brisbane Marketing’s investment attraction team worked closely with Frasers Hospitality to develop a business case for converting the office tower into hotel accommodation.
“The project is another exciting development for our city and we expect it will help to transform a major stretch of Albert Street into a more vibrant environment,” Cr Quirk said.
“The 239 room project represents a major investment in our city and is a big vote of confidence in Brisbane’s booming business landscape.
“More hotels will increase Brisbane’s capacity to improve the city’s tourism potential and attract more major events and business conventions to the city- both of which bring us enormous economic benefits.
“Brisbane is a destination of choice for business, investment and major events.”
The existing 19-storey office building will be converted into a four or five star hotel, featuring a restaurant on the ground level and function rooms on the podium levels.
New hotel room supply and the upcoming G20 Leadership Summit in November is expected to further enhance Brisbane’s growing reputation as a tourism and convention destination and attract visitors from emerging markets, such as China.
Frasers Hospitality CEO Mr Choe Peng Sum said Capri by Fraser would be open in early 2015.
“Located right in the heart of the CBD, the design-led Capri by Fraser is aimed at the e-generation and we hope it will add to the colour and vibrancy of the city,” he said.
“We have to thank the Lord Mayor Graham Quirk, Councillor Amanda Cooper, Councillor Adrian Schrinner and CEO of Brisbane Marketing, Mr John Aitken, whose team provided us with much assistance from the time we started to look for a property in Brisbane, right through to the present renovation.”
Brisbane Marketing CEO John Aitken said Brisbane was a tightly-held market and Frasers were very keen to establish a presence in the city.
“This is a key win for Brisbane Marketing’s hotel investment team and we continue to work hard to promote the city as an attractive proposition for potential investors,” Mr Aitken said.
“We are currently collating updated data for the next edition of our Hotel Investment Guide, which we launched last year to show international investors the opportunities available in Brisbane.
“We are also very focused on the demand side of the equation, generating business events, conventions and growing our major events calendar.”
Hotel projects currently under construction in Brisbane include:
- · SilverNeedle Hospitality is refurbishing and extending Brisbane’s Chifley Hotel, converting it from a 150 room to a 300 room hotel – one of the largest, recent hotel repositioning projects in Australia.
- · The Wyndham Hotel Group’s TRYP hotel in Fortitude Valley will add a further 65 rooms to supply.
- · Gambaro Hotel will open in May 2014, offering 69 rooms on Caxton Street.
- · Another 48 rooms will be available at Mosaic Hotel in Fortitude Valley, when it opens towards the middle of the year.
- · Starwood Hotels & Resorts Worldwide and Felicity Hotel opened a 246 room Four Points by Sheraton hotel in the Brisbane CBD on March 4, 2014.