Accommodation sector welcomes planned new ‘iconic hotel’

A new "iconic" hotel in Sydney would complement the great accommodation venues already available in our only global city, Tourism Accommodation Australia (NSW) director Carol Giuseppi said today.

Ms Giuseppi welcomed news James Packer's Crown Limited had signed an Exclusive Dealing Agreement with Lend Lease to develop plans for a new hotel complex at Barangaroo on Sydney Harbour.

"This is exactly the kind of targeted iconic accommodation facility this city needs," she said.

"Importantly, the Crown Limited hotel would be built with a direct market in mind – that is the kind of development we need, development that is sustainable and will add to Sydney's image as Australia's premier city.

"This proposed new hotel can only complement the fantastic accommodation facilities the city already boasts such as the recently refurbished $60 million Park Hyatt."

Ms Giuseppi said the accommodation sector in Sydney is going from strength to strength – and today's announcement is just the latest indication.

"Not only do with have the luxurious refurbishment of the Park Hyatt and the opening of The Darling at The Star last year, we have major refurbishments at: Four Seasons, Novotel Rockford Darling Harbour, Hyde Park Inn, Holiday Inn Darling Harbour, The Castlereagh Boutique Hotel, The Shangri-La, Hilton Sydney, Radisson Hotel & Suites, Sydney Marriott Hotel, Swissotel and the Four Points by Sheraton," she said.

"The Langham Hospitality Group has also secured its first flagship property in Sydney with the acquisition of The Observatory Hotel and has signalled its intention to invest millions in upgrading this prestigious property.

"The total value of these refurbishments alone is in the order of $80 million and will ensure that Sydney hotels remain competitive on the world stage. These developments certainly demonstrate that investor confidence in the Sydney market is increasing. "

Ms Giuseppi said Sydney accommodation hotels were raising the bar.

"For the first time in more than a decade Sydney hotels are in a position where investors are prepared to invest millions of dollars on refurbishments, ensuring that Sydney retains its position on the travel itineraries of the world's most discerning travellers," she said.