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Saturday, August 4, 2012

Crown proposes major hotel for Sydney

Packer to develop "six star" hotel resort at Barangaroo

Crown Limited has just announced an exclusive agreement with Lend Lease Corporation in relation to the proposed development of a "world class, six star hotel resort at Barangaroo South, Sydney".

Under the pact Lend Lease and Crown will work together to develop the plans for the property, giving Crown the right to work exclusively with Lend Lease on the project for up to two years to reach agreement on certain key milestones and obtain the necessary development approvals for the project.

Crown ceo James Packer said "Sydney deserves one of the world's great hotels on its magnificent harbour. My desire is for Crown to build the best hotel in the world at Barangaroo.

"Crown's record demonstrates we can deliver a centrepiece that will draw millions of tourists. A Crown integrated resort at Barangaroo would boost the economy, create thousands of new jobs, contribute significant tax revenues to the State Government and enhance the overall attractiveness of Sydney as a first class international tourist destination," he added.

Packer said Crown was currently considering the options to incorporate a VIP only gaming facility at the proposed property, which would be necessary to provide the "commercial underpinning" for any development.

More information in today's TravelDaily.

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