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Como group to debut with Perth boutique hotel
World-renowned luxury Como Hotel and Resorts group, operated by entrepreneur Christina Ong, is shaping to make its first entry into Australia, replacing rival Asian hospitality group Aman Resorts as the operator of a boutique hotel, the centrepiece of the city’s redeveloped Treasury buildings.
It is unclear why Aman Resorts, which announced it would open its first Australian property in Perth’s Treasury buildings five year’s ago, pulled out several years ago.
But several hotel executives contacted by The Australian yesterday said some investors and operators were getting cold feet on Perth given the hefty amount of new hotel room supply coming into the city and the simultaneous cessation of the mining boom, which had seen midweek hotel room prices spiral to $1000 a night.
“A few people are nervous about the amount of supply going into Perth, given there’s a Westin (opening October 2017), a Ritz-Carlton at Elizabeth Quay and Starwood’s new Aloft Perth Rivervale opening in 2017,” said a senior hotel executive.
It is understood Como Hotels and Resorts has been brought in as operator by former Mirvac executive Adrian Finney and development company FJM Property, which has been working on the Treasury building redevelopment since 2010.
Founded by Ms Ong in 1991, wife of Malaysian hotelier Ong Beng Seng, Como operates 12 hotels and resorts internationally.
In Perth it plans a 48-room boutique hotel, slightly increasing the room count on Aman’s proposal for 46 rooms.
Renowned Australian architect Kerry Hill will design the new boutique hotel which is expected to open by September.
The hotel will be part of the restoration of Perth’s historic 19th century Treasury buildings, which was announced by the Western Australian government as part of a $584m hotel and office development in 2010. At that stage FJM was acting as local joint venture partner with Aman on the redevelopment of the St Georges Terrace properties.
Como has long wanted to enter the Australian market. It operates two urban hotels in London and a similar city property in Bangkok. It also operates adventure retreats in Bali and island getaways in the Maldives.
Meanwhile, the Four Points by Sheraton Hotel in Perth, which is being sold by GIC, has attracted a number of local and international bidders.
About $100 million is expected for the hotel which is being sold by Singapore’s GIC Real Estate group and US-based hospitality giant Host Hotels & Resorts. The joint venture has spent millions revamping the hotel, which was then known as the Citigate Perth when it bought it for $61m in 2012.
FJM declined to comment yesterday.
Source: The Australian - 11th June 2015
