Hotel St Regis signs up to Melbourne’s $800-million Flinders Bank development

The entrance of a St Regis hotel in Singapore.

World renowned luxury inn St Regis Hotels and Resorts, which is owned by Marriott International, will open its first Australian facility on the banks of the Yarra River at the western edge of the Melbourne CBD.

A distinctive hotel (artist’s impression, top) is set to open in 2022, containing 168 luxury rooms.

St Regis is said to have created the Bloody Mary drink in 1934.

Marriott International’s senior director of hotel development in Australia, New Zealand and Pacific, Richard Crawford, told website thehotelconversation.com.au – which reported the deal first this morning – that it chose Melbourne because demand for hotel rooms was strong.

“This signing is an indication of the investment community’s confidence in the Australian market, where we are seeing a growing demand for premium lodgings,” he said.

“The St Regis Melbourne will be an outstanding addition to our strong and growing footprint in the region, where we are on track to boast the largest portfolio of upper upscale and luxury hotels and resorts, with two thirds of the new supply in the pipeline.”

The hotel will occupy one of three buildings earmarked as part of $800 million Flinders Bank development which is being proposed by local builder Century Group Australia.

Upon completion Flinders Bank will contain 650 apartments and 2100 square metres of retail space. Colliers International is marketing the flats within the other two proposed buildings. A strong marketing point is the view security some apartments will have over the Yarra River.

Flinders Bank will replace the former Melbourne Convention Centre which for a period, years ago, accommodated Crown Casino.

Last month realestatesource.com.au reported that Hyatt Centric had leased all of a proposed 10-level complex earmarked for 2-10 River Street, South Yarra.

The Quincy Hotel brand is also coming to Melbourne, committing to an unbuilt 30-storey, 241 room complex set at 33 King Street. Local developer BPM sold this hotel investment to India’s Interglobe Enterprises for $91.3 million two weeks ago.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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