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Deadline looming for hotel development moratorium

13 May, 2014

Lord Mayor Graham Quirk has announced hotel developers seeking to benefit from a three year moratorium on infrastructure charges can hold a pre-lodgement meeting with Brisbane City Council by 30 June 2014 to be eligible for the benefit.

Cr Quirk said that Council’s three year moratorium on hotel infrastructure charges for new four and five star hotel developments had resulted in significant investment in the CBD and Fortitude Valley, but more hotel rooms were needed to meet demand.

The moratorium is available for applications approved by 30 June this year and constructed within two years however developers who hold a pre-lodgement meeting with Council before 30 June 2014 will now be eligible so long as development has commenced by 30 June 2016.

“Brisbane is a destination of choice for business, investment and major events and I’m introducing some flexibility to the moratorium to make sure we don’t miss out on any new hotel development proposals,” he said.

“Prior to Council’s moratorium on hotel infrastructure charges there had been no new major CBD hotels in a decade. However since the incentive was announced, 12 hotel development applications have been approved.

“Two hotels have been completed and five hotels are currently under construction but more hotel rooms are needed to realise these economic opportunities for Brisbane, and enable the city to secure more international business events and conferences.

“This active approach to attracting hotel investment has reaped rewards for Brisbane with an additional 575 additional hotel rooms and 337 serviced apartments either available or coming on line this year.”

Cr Quirk said due to a shortage in internationally-recognised, full-service hotel room supply, Brisbane was forgoing about 121,000 visitors a year.

“The shortage is causing the market to defer an estimated 278,000 room nights every year – about 14 per cent of current demand,” he said.

“This lack of hotel supply is hampering Brisbane’s ability to attract major events and conferences. This lost visitor expenditure equates to about 1100 jobs and $114 million in missed economic opportunity.”

Recent hotel development applications approved include:
• Four Points by Sheraton. 103 Mary Street. 246 hotel rooms, Completed
• Gambaro Hotel. 29-39 Caxton St, Petrie Terrace. 63 hotel rooms, Completed.
• Next Hotel. 66 Queen Street Mall, 150 hotel rooms, Under construction
• Shayher Group. Law Courts Site, 304 George St. 305 hotel rooms, Construction not commenced
• Capri by Frasers. 80 Albert St. 240 hotel rooms, Construction not yet commenced
• TC Beirne. 315 Brunswick St. 112 hotel rooms, Construction not commenced
• Alpha Mosaic. 826 Ann St, 48 hotel rooms. Under construction [Ends] May 13, 2014

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