Suleman shows confidence with first hotel investment

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LOOKING beyond the short-term challenges, Suleman Group has teamed up with Marriott to open two Courtyard by Marriott hotels in outer Melbourne in 2023 and 2024.

The developments, which will be Suleman Group’s first hotel investment, will be within 25km of the Melbourne CBD in expanding metropolitan centres and designed by architecture and interiors firm, WMK.

The hotel sector in Australia has continued to show confidence, despite the conditions presented to the sector by COVID-19, such as the stay in both interstate and overseas tourism.

“Despite the challenges faced by our industry, 2020 has been a record year of hotel signings for Marriott International in the Australia Pacific region, demonstrating investor’s confidence in the hotel industry’s prospects of success beyond this year,” said Richard Crawford, senior director of hotel development for Marriott International.

Suleman Group have portfolio up until this point has consisted of office investments, neighbourhood activity centres, residential land development and a number of land holdings in the Greater Melbourne area.

“We have always employed a steadfast, counter-cyclical approach to our investment mandate, and see these hotel assets contribute to the family’s diversified asset investment portfolio.  Our investment in Courtyard by Marriott Melbourne, Mulgrave will see the delivery of a high-quality landmark hotel on Wellington Road, to support the wider Monash employment precinct,” said Sam Suleman, CEO of Suleman Group.

The first site in Mulgrave, will consist of 212 rooms, an all-day dining restaurant, lobby lounge, a ‘grab and go’ café, fitness centre with sauna and steam rooms and a 510sqm of conference room/meeting space. The development will also be in close proximity to Monash University and transport.

The second development in Truganina, will be comprised of 141 rooms, a restaurant, lobby lounge, ‘grab and go’ café, rooftop bar, fitness centre and 331sqm of flexible meeting space.

“The signing of Courtyard by Marriott hotels in Mulgrave and Truganina reflects Marriott International’s commitment to expand our footprint into growth corridors outside of Australian capital cities,” added Sean Hunt, area vice president at Marriott International.

Marriott’s first Courtyard hotel in West Melbourne is due to be opened in 2021.

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