Plans have been announced for a new 250-room hotel development in the city that will be pitched at the middle of the market and open in 2021.
Melbourne-based property investment firm SB&G Hotel Group is behind the proposed $50 million development next door to its Crowne Plaza Hotel on Glebe Park, and near the planned $307 million redevelopment to transform the Casino Canberra precinct.
A spokesperson said the site was directly adjacent to the Crowne Plaza and was currently a car park.
InterContinental Hotels Group (IHG), which manages the Crowne Plaza, will also manage the new hotel, under the Holiday Inn Express brand, complementing its upscale neigbour.
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SB&G said having two IHG-managed hotels housed on the same site would allow it to broaden its offering and further tap into the corporate market and the growing number of tourists coming to the national capital.
Managing Director of SB&G Hotel Group, Paul Salter said the company saw an opportunity to bring a differentiated hotel offering to the Canberra market.
“While the Canberra market has been strong over recent years, the majority of hotel supply that is planned is upscale, with the midscale market remaining under-serviced,” he said.
IHG’s Managing Director – Australia and Japan, Leanne Harwood, said the hotel would offer fast service in a simple format.
“With faster check-in and breakfast for everyone, Holiday Inn Express gives guests a simple, engaging place to recharge and get a little work done. We think it’s a great fit for Canberra’s savvy traveller,” she said.
The company behind the casino, Aquis, says it wants to turn the current Casino Canberra and surrounding area into a leisure and nightlife precinct but the project has been dogged by delays in getting Government approval.
It envisages a new, expanded casino, six-star luxury villas, a five-star hotel, seven new restaurants, day spa and resort pool, luxury retail shopping mall and nightclub and bars.