Developments
Starwood looking for Sydney W
Starwood, having just announced a 280-room W Hotel in Brisbane, is looking for a second W hotel for Sydney.
The company is searching for a suitable property to strike a management agreement, according to Michael Simpson, managing director, Savills Hotels.
“The W brand is well suited for the Sydney and Melbourne markets and they are actively seeking development opportunities,” Mr Simpson said. “They would not build but they are looking to partner up with a developer or owner.”
Savills report that $2.2 billion worth of hotels sold in the 12 months to June, up 8 per cent on last year including the $340 million sale of the Four Seasons Hotel Sydney and the $216 million sale of The Reef Hotel Casino in Queensland.
