The Star to bring IR to Sydney
The Star Entertainment Group filed an application to develop a US$500 million Ritz-Carlton hotel in Sydney.
Australia.- A new Ritz-Carlton hotel could soon come to Sydney after The Star Entertainment Group filed a development application for a US$500 million project to develop it. The request, filed with the New South Wales Department of Planning, involves several gastronomic offerings and a neighbourhood centre.
“Forecasts suggest Australia’s current visitation of around 8.3 million international visitors per annum will rise to 15 million a year inside a decade,” Star CEO Matt Bekier assessed and forecasted the development would help the Australian city to attract more tourism. He also added that “the necessary tourism infrastructure” is needed to boost the segment and stated: “Sydney lacks sufficient high-end hotels to meet this wave of international tourist demand, led by the rapidly expanding wealthy Chinese middle-class demographic.”
In addition, Mr Bekier said: “By moving to close the shortfall in supply, we can ensure we don’t miss an opportunity that offers considerable economic benefit to this city and this State.”
The Star Entertainment Group is determined to develop a venue in the city, as rival Crown Resorts is already building a US$2.2 billion six-star IR at Barangaroo.
