Marriott vies to open St Regis hotel at Gold Coast’s Jewel
Marriott is vying with international rivals to open a St Regis property at the troubled Yuhu development on the Gold Coast.
In one of the brand’s largest plays in Australia, the US hotel chain’s luxury brand appears to be a frontrunner for the tender of the lower levels of the $1 billion Jewel development at Surfers Paradise.
Marriott International confirmed it had expressed interest in the site. The operator has not been shy on its plans to expand into Australia, naming the Gold Coast as a “priority expansion market”.
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“Finding the right partners and locations is always key, and this is particularly important for the St Regis brand, which offers the best addresses globally,” a spokesman says.
If awarded, the Gold Coast will be the first location for a St Regis in Australia, launching ahead of the brand’s Melbourne offering in 2022.
The developer did not rule out St Regis as a serious contender, confirming that “several major international hospitality groups have already visited the Jewel project site”.
Chinese company Yuhu is expected to award the tender in the coming weeks.
The Australian understands the Chinese developer will spend a further $300 million ensuring that quality is delivered to Yuhu’s standards after deciding the pre-existing fittings were not what was envisioned.
It is a hard time to be a Chinese developer on the Gold Coast. Insiders are reporting that the $1.3bn Spirit development is privately being shopped around to a number of select developers. The Australian arm of Chinese mega-company Fu Hua Holdings is reportedly struggling to find a buyer for its 89-storey tower.
Jewel hit headlines last month when 900 labourers walked off the job in solidarity with more than 100 contractors who were put off after the hotel development was put on hold. All workers are back on site after intervention from the construction union.
Despite the changes and delays, the development is still expected to meet its mid-2019 delivery deadline.
This article originally appeared on www.theaustralian.com.au/property.
