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Construction starts on 4 star Spring Hill boutique hotel

06 November, 2014

Construction starts on 4 star Spring Hill boutique hotel
Lord Mayor Graham Quirk today announced the start of construction of a new 110 room boutique hotel in Kennigo St, Spring Hill, expected to be completed in late 2015.

Cr Quirk said the new hotel – to be known as Richmont Hotel by Mantra – would help fill a niche market in Brisbane’s hotel sector and create 60 ongoing jobs.

“Brisbane is experiencing growing demand for hotel rooms not only for leisure and events travel, but also for strategically-located accommodation for business travellers which is what this boutique hotel will cater for,” Cr Quirk said.

“This new-build hotel will have quick access to the airport and will be only minutes from the CBD and Fortitude Valley, making it convenient and attractive to many business visitors.”

Malaysian based property developer Richmont Holdings will build a four-star hotel with an internal landscaped courtyard and a restaurant and bar incorporated into the adjacent heritage building. A 58-space basement car park will be part of the development.

Cr Quirk said Brisbane had many opportunities for hotel investors seeking to capitalise on the city’s growth and unmet accommodation demand.

“The city of Brisbane is open for business and through the work of economic development board Brisbane Marketing we continue to see interest from international investors, especially from Asia Pacific,” Cr Quirk said.

Richmont Holdings Managing Director Gregory Loh said Brisbane was an obvious choice for the company as it undertook its first investment into the Australian market.

“There is an air of confidence in the Brisbane business scene at present and we believe the style of hotel we are building will fit in perfectly with the mix of accommodation in demand at this time,” Mr Loh said.

Richmont Holdings has formally signed a management agreement with ASX-listed Mantra Group for the operating rights of the hotel.

Mantra Group Chief Executive Officer Bob East said he was excited about the new hotel development.

“This hotel will be a welcome addition to Mantra’s Brisbane network, offering guests a distinctive and stylish accommodation option in a well-positioned location close to the city’s key precincts,” Mr East said.

The hotel is expected to be completed in late 2015, with construction starting this month.

Other hotels completed in Brisbane this year include:

• TRYP Hotel by Wyndham – 20 Constance St, Fortitude Valley, 65 rooms
• NEXT Hotel – 72 Queen St, 304 rooms (150 added)
• Four Points by Sheraton – 103 Mary St, 246 rooms
• Gambaro Hotel – 29-39 Caxton St, Petrie Terrace, 63 rooms
• Alpha Mosaic – 826-844 Ann St, Fortitude Valley, 51 rooms



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