Wyndham continues its aggressive expansion
The aggressive expansion of the Wyndham Hotel Group continues with the hospitality giant today revealing a new asset acquisition and management agreement for a landmark Melbourne development.
Located on the corner of William Street and Little Bourke Street, this landmark Melbourne property is currently under construction by international developer Hengyi Australia P/L. Once completed it will feature modern and stylish apartments and will be branded Wyndham on William. The acquisition will also include the purchase of 87 apartments.
The 531 apartment high rise complex will be managed by Wyndham Hotel Group, the world’s largest hotel company, as measured by the number of hotels. It will run as a mixed-use property in collaboration with Wyndham Vacation Resorts Asia Pacific, the largest vacation ownership company in the Asia Pacific region.
This highly successful hybrid model, which the company introduced to the South Pacific in 2008, is changing the face of the region’s hospitality industry by providing accommodations for both hotel guests and WorldMark South Pacific Club by Wyndham vacation owners.
In 2012, Wyndham’s average occupancy across its portfolio of 24 properties in Australia, New Zealand and Fiji exceeded 86% despite the struggling tourism and hospitality industries.
The development is expected to be complete by mid-2014 and will provide a combination of studio, one, two and three-bedroom apartments for both short term accommodation and residential. There is also an extensive retail space. Onsite facilities will include a 24-hour concierge, gymnasium, restaurant, medical centre, library, conference space, meeting room and rooftop pool.
The sleek and modern development, consisting of two adjacent buildings, a 23-storey tower on William St and a 21-storey building in Little Bourke St, has been designed by Bruce Henderson Architects.
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