Schwartz to buy Unbuilt Darling Harbour Hotel?
The Schwartz Family Company has been in talks with developer Lend Lease since January to acquire the International Convention Centre Hotel at Sydney’s Darling Harbour.
The deal for the yet-to-be-built hotel is said to be around $368 million. Construction of the hotel is expected to start later this year.
It is understood that Jerry Schwartz will sell off its non-hotel property assets – including the $100m Deepwater Plaza shopping centre – to partially fund the acquisition.
Designed by Sydney architect Richard Francis-Jones of Francis-Jones Morehen Thorp, the prism effect, 630-room hotel on Sydney Harbour would probably be operated under an Accor brand and would join Schwartz’s Novotel Newcastle Beach and Crowne Plaza Hunter Valley hotels.
Original International Convention Centre Hotel plans called for a 900-room hotel but this was scaled back by Lend Lease.
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