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Lord Mayor opens Four Points by Sheraton Hotel

04 March, 2014

Lord Mayor opens Four Points by Sheraton Hotel

Lord Mayor Graham Quirk today (Tuesday, March 4) opened the first internationally branded, new-build hotel property launched in Brisbane in the past 16 years.

The Lord Mayor said the Four Points by Sheraton Hotel, a 33-storey hotel skyscraper with 246 rooms, was an example of the success of the Hotel Investment Strategy in 2012.

“This strategy was developed after research commissioned by economic board Brisbane Marketing showed a lack of hotel rooms meant Brisbane was missing out on about 87,000 visitors and $130 million in visitor expenditure every year,” Cr Quirk said.

“To further assist the future investment and development of four and five-star branded hotels, Brisbane City Council also introduced a moratorium on infrastructure charges, a move which is clearly starting to pay dividends.”

Prior to this moratorium there had been no new major CBD hotels in a decade, but since it started in July 2011, 10 hotel development applications have been approved and Council has been approached by a number of hotel operators regarding the subsidy.

Cr Quirk said the moratorium was available for development applications approved until the end of June 2014, but construction must start within two years of approval.

“The effects of this moratorium are evident today as we open the Four Points by Sheraton Hotel, one of the world’s renowned hotel brands,” Cr Quirk said.

“This newest addition to our city’s hotel offerings will be within walking distance to the city’s central business district, our Queens St Mall shopping precinct and have access to a myriad of transport options.

“It’s always a good sign for Brisbane’s economy when major international brands set up shop and serve as a drawcard for interstate and international tourists.”

Cr Quirk said previously growth in demand for hotel rooms had well out-stripped growth in the number of hotel rooms, with just a 0.9 per cent annual growth in rooms compared with a 4.9 per cent annual growth in total visitors.

“Brisbane enjoys robust hotel trading conditions, with a 79 per cent occupancy rate in 2012 and a 28 per cent increase in room nights sold over the past five years,” he said.

The Four Points by Sheraton Hotel is located at 99 Mary Street, Brisbane.

[ENDS] March 4, 2014

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