Brookfield to build Shayher Group’s W hotel in Brisbane
An artist’s impression of the planned W hotel in Brisbane. Source: Supplied
In a rare interview, Shayher Group general manager Peter Sia said the contract covered the first stage of construction of the tower on the old Brisbane Supreme Court House site. Apart from the 305-room hotel, the development will also include a residential apartment complex.
The Brookfield Multiplex contract covers construction of a seven-storey basement with parking for more than 900 vehicles, a four-level podium and 31-level hotel.
Mr Sia said he was yet to let the fitout component for the hotel, which he was aiming to have finished for the Commonwealth Games in April 2018.
The Shayher Group was looking for more development opportunities in Queensland, apart from the $250m four-building Brisbane fringe apartment project, The Hamilton.
Mr Sia said he looked at buying a residential site near The Hamilton apartment complex on offer through the state government’s Economic Development Queensland agency, but he believed it was snapped up by Leighton.
Meanwhile, Starwood Hotels and Resorts regional vice-president Sean Hunt said the American hotelier was planning more W-branded hotels in Australia, claiming that the W Brisbane was the first truly luxury hotel built in the Queensland capital.
“We are actively working on other deals to put W hotels in other cities in Australia,” Mr Hunt said.
Apart from the upscale W brand, Mr Hunt said the more affordable four-star Aloft brand was being well received by developers. “Aloft is affordable, developers like it and all the gross floor area is taken up with revenue-generating services,” Mr Hunt said.
Aloft hotels have been announced in Perth, Adelaide and in Sydney’s Pitt Street. Mr Hunt saying more would be developed in major Australian cities.
The four Starwood properties operating in the Sydney CBD were producing occupancies of more than 90 per cent, Mr Hunt said.
“There’s been a lot of growth in the mid-scale segment such as Aloft,” he said.
Source: The Australian, Lisa Allen, July 10th 2015
