Plans unveiled for new Crown hotel at Melbourne site
Crown Resorts has revealed plans for a fourth Crown hotel at the former One Queensbridge development site in Melbourne.
Speaking at its half-yearly results, Crown said the “site could accommodate a fourth Crown hotel which would deliver significant economic and tourism benefits to Victoria”.
Crown acquired the remaining 50 per cent of the Melbourne site and pre-development assets for $80 million from Schiavello Group late last year.
“The purchase represents Crown’s continued investment in Victoria and the Southbank arts and entertainment precinct,” Crown stated.
The luxury resort group said the first half results reflected mixed trading conditions.
“Crown has recently experienced softer trading conditions as a result of travel restrictions and general community uncertainty in response to Covid-19, particularly over the Lunar New Year period,” Crown chief executive officer Ken Barton said.
Sheridan Randall, 21st February 2020
