The Star Entertainment Group, an eminent casino operator based in Australia plans to build four new towers in its Gold Coast property. This could translate into as many as 3000 hotel rooms. In July, the group won the right to set up an integrated casino resort in Brisbane’s Queen’s Wharf region.
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Previously, the Star Entertainment Group, said the Queensland site located at south of Brisbane will get an investment of $251.8 million for the refurbishment of almost 600 hotel rooms. This will be done along with setting up a 17-storey six-star hotel tower. The tower would feature over 50 luxury suites. This renewal involves partners and operator Far East Consortium and Chow Tai Fook start construction in 2017 for a 4.5-star tower with 700 rooms. This project would cost a whopping $365.3 million.
A Brisbane Times report shows the Star Entertainment Group may also set up 4 more towers starting from 2022 at 4 year intervals. The group owns The Star Casino and the Treasury Casino And Hotel. This would require an investment over $1.46 billion.
Matt Bekier, the MD of The Star Entertainment Group based in Brisbane, said the plans for development of a casino and hotel in the Gold Coast region will be realized if market conditions turn out to be viable. The company also needs to get some approvals. He said, the group is focused on realizing the ongoing project at present. The approvals for the same are yet to be made. Once that is done, the group can think of others in the wing. It is too early to say anything conclusively about the beginning or completion of those projects.
Matt Bekier added that one of the planned towers will contain some residential apartments while the other will be a hotel. The remaining developments will have both hotel rooms as well as serviced apartments. The pre-sales will give the group the impetus to proceed with the planned other projects, he added. For the rest of the towers, the group will examine the kind of customers that express interest. By 2018, it would be clear as to what the demand scale is. However, none of those planned towers would be beneath 4.5 stars.
Bekier further said The Star Entertainment Group will have a one-third stake in those upcoming Gold Coast developments. The remaining part will be shared between two Hong Kong-based investors, aka Far East Consortium and Chow Tai Fook. He also said his company is talking with a number of Chinese tourism operators. The company is in negotiation with China Travel Service. This will help the entity to find out the best blend of hotel brands to cater to requirements of target Asian visitors.