Sydney to get more than 1,000 new hotel rooms

Britain News.Net
Sunday 17th August, 2008

A wave of new hotel developments is to hit the Sydney hotel market, with the first of a number of new developments opening for business next month.

Accor is about to raise the curtain on its long-awaited five star hotel at Homebush, on the site of Sydney’s Olympic Park. The 212-room Pullman Hotel, being developed by Tourism Asset Holdings Limited, will open its doors in September.

Accor is also preparing to launch the Ibis Hotel at King Street Wharf in Darling Harbour. The property is at the late stages of construction and will open later this year.

Darling Harbour has been a popular precinct for hotels in Sydney but it is about to become very competitive. In addition to the new Ibis, Accor plans to expand the size of its 525-room Novotel on Darling Harbour Hotel to make it the biggest in Australia. The Four Points by Sheraton, also at Darling Harbour, is currently the nation’s biggest hotel. Accor has made application to the Sydney Harbour Foreshore Authority to add another 232 rooms, to take the hotel’s room inventory to 757.

Bordering Darling Harbour at Pyrmont, a new 135 room all-suite hotel, to be managed by Quest, is nearing completion and will open its doors in the next six months.

Also at Darling Harbour, plans are well advanced for a new hotel of 300 rooms to be built by Star City Casino.

Additionally, Quest will open a 72-apartment hotel in the Sydney CBD, on Goulburn Street, later this year.

The hotel market in Australia’s biggest city has been riding the crest of a boom with occupancies and room rates nearing record levels. However with new room supplies coming into the market at a time of record high petrol prices, a slowing economy, rising air fares, and contracting flight schedules, it may well be time for Sydney hoteliers to tighten their seat belts.

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