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Lord Mayor welcomes new 5-star hotel for Brisbane

21 May, 2013

Lord Mayor welcomes new 5-star hotel for Brisbane

Lord Mayor Graham Quirk has welcomed news that the former District and Supreme Courts will be redeveloped into a mixed-use precinct including a five star hotel.

The State Government today announced it had finalised the sale of the George Street site to the Shayher Group in what is set to be one of the largest single developments in the Brisbane CBD.

“This is another vote of confidence in the strength of the Brisbane hotel market and in the city’s economy,” Cr Quirk said.

“Recently we’ve seen a strong influx of capital being invested in Brisbane hotels.

“This will result in extra hotel capacity, helping to attract more visitors to Brisbane, while generating economic stimulus for CBD businesses.

“Brisbane is continuing to grow into a destination of choice for international visitors and events, including the upcoming G20 Leaders Summit 2014, and I want to ensure we can continue to accommodate these events.

“I’ll continue to encourage hotel development and improve the city’s business, convention and tourism potential.”

Recent acquisitions of existing hotels and new hotel plans include:
• SilverNeedle Hospitality announced it would refurbish and extend the 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 Brisbane Marriott was purchased by the Malaysia-listed Starhill Real Estate Investment Trust (as part of a portfolio for a total of $415 million).
• Shangri La Hotels and Resorts group purchased the Holiday Inn for $48 million and will operate it as Traders Hotel.
• Starwood Hotels & Resorts Worldwide and Felicity Hotel will open a Four Points by Sheraton hotel in the Brisbane CBD by January 2014.

“In the Economic Development Plan 2012-2031 I made a commitment to facilitate major new hotel development,” Cr Quirk said.

“As a result the council has introduced a moratorium on infrastructure charges to directly assist the future investment and development of four and five-star branded hotels.

“Current research estimates Brisbane is losing around 87,000 visitors and $130 million in visitor expenditure due to a shortage of hotel rooms.

“This is equivalent to more than 1100 jobs and $106 million in economic activity for the city, which is why it is an absolute priority for Brisbane.”

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