SINGAPOREAN developer Chip Eng Seng is bringing the Hyatt Regency brand back to Adelaide with the development of a new $180 million hotel.
Located at 51 Pirie St Adelaide, the 27-storey hotel will offer 295 rooms and facilities including more than 750 sqm of event space, a market cafe, guests club, swimming pool, fitness facilities and a rooftop bar, set on a 1,283 sqm site.
Construction is expected to commence in early 2020 and the hotel is expected to commence operations in early 2023.
CES executive director and group CEO Raymond Chia said the Hyatt Regency Adelaide will add to the company’s strategic presence in Australia.
“We have selected Hyatt because of its established reputation and leadership in the hospitality industry. We will work closely with Hyatt to create a hotel which will become an excellent representation of all the elements that make the Hyatt Regency brand so successful over the decades,” Chia said.
Hyatt Asia Pacific vice president Monika Dubaj said the development of the new Hyatt Regency Adelaide will mark an important re-entry into Adelaide for the brand and also fill a key gap in Hyatt’s domestic Australian network.
“The hotel is part of our strategy to provide more offerings to travelers as we expand in Australia, with new destinations such as Adelaide and Brisbane that will complement our current portfolio of seven hotels in Sydney, Melbourne, Perth and Canberra,” Dubaj said.
CES acquired 51 Pirie St last year for $14.5 million (excluding GST) from Chia’s private property development business.
Chia bought the vacant office building from Charter Hall’s Core Plus Office fund for $13 million in 2015 and had proposed to develop the Park Hotel Adelaide, a 36-storey mixed-use development including 280 apartments and 250 rooms hotel.
According to STR, Adelaide’s hotel market is performing strongly with occupancies of over 75% as at June 2019.