Hong Kong developer to build luxury Swissotel hotel on Gold Coast
Aggressive Hong Kong developer Golden Horse Group has committed to building a $60 million luxury hotel on the Gold Coast’s Hope Island, signing with Accor over the 150-room property, which will be branded a Swissotel.
It will be part of a new breed of luxury hotels being developed in Australia, including several Ritz Carltons on the east and west coasts and an opulent W in Brisbane.
Accor chief operating officer Simon McGrath, who has won the management rights to run the hotel under the Swissotel brand, says few luxury hotels have been built in Australia in the decade to 2010.
Commercial Insights: Subscribe to receive the latest news and updates
“You now see a trend in developing upscale hotels, investors are seeing the opportunities, and you’re seeing a strong Queensland tourism industry with Chinese arrivals growing 20% in the past 12 months,” McGrath says.
The new Swissotel to be built on the 18-hole Links Hope Island Golf Course precinct adds to the myriad of projects relative newcomer Golden Horse plans in Australia, including a residential apartment tower in the Brisbane suburb of Milton, the $60 million Noosa Springs Golf Resort and the potential development of the Twin Creeks championship 18-hole golf course in Sydney’s West.
Golden Horse also bought a residential site in Sydney’s Erskineville for about $380 million from Goodman Group, brought China-backed Greenland Australia into the project and recently launched apartments at the project.
Investors are seeing the opportunities, and you’re seeing a strong Queensland tourism industry with Chinese arrivals growing 20% in the past 12 months
Golden Horse reportedly spent $14 million buying The Links at the Hope Island Resort four years ago.
The Swissotel will be built over three levels to include a 300-room conference facility, spa and wellness centre at the golf course, which opened in 1993 and is rated Queensland’s third best resort.
McGrath says Accor Hotels operates more than 40% of the luxury hotels in the Asia Pacific region under its Sofitel, Raffles, Fairmont, Pullman and Swissotel brands.
He expects the Swissotel on Hope Island will be dominated by domestic travellers.
The Swissotel joins several other premium resorts on Hope Island, including the Intercontinental Sanctuary Cove Resort, the Ramada Hotel Hope Harbour, the Sanctuary Cove Villas and the Azzura Greens Resort.
This article originally appeared on www.theaustralian.com.au/property.
