THE Star Sydney complex is set to receive a significant upgrade and revive an iconic brand in the process.
The Star Entertainment Group has lodged a development application with the NSW Department of Planning for a new hotel tower which will be called the Ritz Carlton.
The $500m development, which will be in partnership with Hong Kong-based Chow Tai Fook and Far East Consortium, will include new resort amenities, more food and drink options and a community centre.
Star Entertainment Group CEO Matt Bekier said the development would not only be a boost for the local community, but it would also play a role in luring both domestic and international visitors.
“This country is experiencing significant growth in inbound tourism, an upward trend which shows all the hallmarks of continuing well into the future,” he said.
“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.
“To cater for that demand, we need the necessary tourism infrastructure. Sydney lacks sufficient high-end hotels to meet this wave of international tourist demand, led by the rapidly expanding wealthy Chinese middle-class demographic.
“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.
“Bringing a world-renowned brand like The Ritz-Carlton to The Star Sydney will further embed our reputation as a tourism and entertainment destination of global appeal.”
The design of the new development was done by FJMT, who won a Design Excellence Competition in December of 2016, which saw them land the right to build the tower.
The Ritz Carlton Hotel includes a signature restaurant, a sky lobby and a rooftop terrace, with the entire complex experiencing spectacular views.
The entire new project is on the Star Sydney’s existing land with it expected to continue the rapid gentrification of the Pyrmont-Darling Harbour-Barangaroo precinct.
“It will also help bolster Sydney’s position in a highly-competitive regional and international market and provide national impetus as well,” Bekier said.
“Australia currently attracts just 1% of China’s international outbound travellers.
“We look forward to receiving the necessary approval, allowing us to proceed with Chow Tai Fook and Far East with whom we’re already partnering on transformational projects at Queen’s Wharf Brisbane and The Star Gold Coast.”