Date: April 2018
Location: The Walk Arcade, Melbourne, Australia
Name: Hotel Indigo Little Collins and Holiday Inn Melbourne Bourke Street Mall
No. of Keys: 453 (Indigo – 181 and HI – 272)
Buyer: Focus Ventures Pty Ltd, which is ultimately owned by British Virgin Island-based Richwood Investments, whose shareholders are Christine and James Sewell, said: “Much consideration has been put into the plans to transform the property into an iconic Melbourne site that complements its strategic location.
Together with our consultants, we have put forth a combined retail and hotel site plan that is able to attract top retailers from around the world.”
The property will front onto Bourke Street Mall on one side and Little Collins St on the other, allowing Holiday Inn to make the most of the pedestrianised retail haven and Hotel Indigo to bring the edgy laneway neighbourhood to life.
Abhijay Sandilya, IHG’s Senior Director of Development – Australasia, said: “With such a large property and sought-after location, dual branding makes perfect sense. IHG has experience with dual branded properties in other markets, including the Hotel Indigo and Holiday Inn Express in Singapore Katong, and a dual-branded EVEN Hotel and Holiday Inn Express planned for Auckland in 2020.
“The new hotel/retail development is projected to attract over $100 million of annual spending by visitors and shoppers. In addition, it will create over 1,000 new direct jobs and 900 indirect jobs for the State ”, he added.
Holiday Inn Melbourne Bourke Street Mall complements the 16 Holiday Inn hotels already open across Australasia, including Holiday Inn Melbourne on Flinders, and is the latest in a string of Holiday Inn signings including Sydney Central, Melbourne Werribee and Geelong.
IHG currently has 47 hotels operating under four brands in Australasia, including: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express, with another 17 in the pipeline, including Hotel Indigo Brisbane Fortitude Valley and Hotel Indigo Melbourne Docklands.
Melbourne has been ranked the World’s Most Liveable City for seven years in a row, with a strong tourism outlook that benefits from a vibrant mix of business, culture, sport and entertainment events. Plans for the development have been lodged and the project is subject to development approval by the Melbourne authorities.
THPT Comment: We think that Accor started the two brand-one hotel concept, which makes great sense…so pleased to see IHG following suit.
First Seen: IHG website