Gold Coast to welcome new six-star beachside resort

An artist’s impression of Aquis Australia’s $440 million Gold Coast development.

The Gold Coast’s re-emergence as an international holiday hotspot has been given a major boost, with Hong Kong billionaire Tony Fung planning a $440 million six-star beachside hotel.

Fung’s Aquis Australia will build a 48-storey hotel with 580 hotel rooms and suites at the current Pacific Point apartment complex site at 3464 Main Beach Parade, which will be demolished.

A development application was to be lodged late this week with the Gold Coast City Council but the region’s mayor Tom Tate has already welcomed the development.

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The construction of the hotel, which is billed as Australia’s first six-star beachside hotel, will create up to 850 jobs, while 200 jobs are likely once the facility is operational.

Fung says the hotel will be pitched towards the luxury traveller market, which has performed strongly over the past year, especially among international visitors.

“We have been very vocal in our belief that the Gold Coast has the potential to expand into new markets and attract a new generation of luxury traveller if it can provide accommodation and facilities that match and exceed anything else that the world has to offer,” he says.

This article originally appeared on www.theaustralian.com.au/property.