Star City lodges development plans
3D concept - image courtesy Scharp.
Star City has invested heavily in Sydney’s future as an Australian tourism hub.
It has lodged plans for a $500 million 6-star Ritz-Carlton Hotel and 61 storey residential tower
The plan lodged with the state government is for a new six-star hotel tower at its Pyrmont casino site.
The $500 million building will stretch 61 storeys and will offer sweeping views.
3D concept - image courtesy Scharp.
Star City is looking to bring the Ritz-Carlton hotel brand back to the Harbour City after more than a decade.
The plan will create 1000 jobs during the building process and 500 more when it’s finished.
Rival James Packer whose Crown casino tower at Barangaroo is now embroiled in a Supreme Court legal battle to ensure its views of the Harbour Bridge and Opera House are not blocked by development had already supported Star City’s plans.
In the company’s statement to the market, Star Entertainment Group CEO, Matt Bekier, said the development will deliver significant benefits to the local community and will position Sydney as a destination of choice for domestic and international visitors, and the Australian tourism sector more generally.
“This country is experiencing significant growth in inbound tourism, an upward trend which shows all the hallmarks of continuing well into the future,” Mr Bekier said.
3D concept - image courtesy Scharp.
“Forecasts suggest Australia’s current visitation of around 8.3 million international visitors per annum will rise to 15 million a year inside a decade.
“To cater for that demand, we need the necessary tourism infrastructure. Sydney lacks sufficient high-end hotels to meet this wave of international tourist demand, led by the rapidly expanding wealthy Chinese middle-class demographic.
“By moving to close the shortfall in supply, we can ensure we don’t miss an opportunity that offers considerable economic benefit to this city and this State.
“Bringing a world-renowned brand like The Ritz-Carlton to The Star Sydney will further embed our reputation as a tourism and entertainment destination of global appeal.”
Leon Gettler - 15th August 2018
