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Friday, October 18, 2013

Iconic Four Points by Sheraton Sydney, Darling Harbour to undergo a A$160 million transformation

M&L Hospitality’s ambitious plan to transform the iconic Four Points by Sheraton (“Four Points”) in Sydney’s Darling Harbour has been approved by the New South Wales (NSW) Government.

The Singapore-based real estate investment firm has engaged leading Australian architects, Cox Richardson Architects, to add a third tower to the iconic hotel, spearheading the revitalisation of Darling Harbour as a dynamic convention precinct. The new tower will add 230 rooms to the Four Points by Sheraton Sydney, already Australia’s largest hotel by room number, bringing the total number of rooms to more than 900 once completed. Brookfield Multiplex has had early contractor involvement on the project. The project is expected to begin in early 2014 and be completed within two years with minimal disruption to the hotel’s operations.

The new development includes 4,810 square-metres (GFA) of pillar-less convention, exhibition and function space designed by Bates Smart, providing an exceptional event venue in the heartof Sydney. It will also address the shortage of event space during the remake of Sydney's International Convention, Exhibition and Entertainment Precinct. Along with the new hotel rooms, the new tower will also be occupied by a spectacular A-grade boutique office component - as part of the project’s 5,000 square metre commercial development. The seven-floor office development will have magnificent views that cannot be built out.

The NSW Deputy Premier, The Hon. Andrew Stoner MP, said, “The expansion of Four Points by Sheraton Sydney is a strong vote of confidence in the NSW visitor economy and the NSW Government's vision to transform Darling Harbour into one of the world's best areas to live, meet and be entertained.”

M&L Hospitality is backed by the prominent Singapore-based Kum family and headed by a leadership team experienced in the hotel industry.

Michael Kum, chairman of M&L Hospitality, said, “We’re delighted that M&L Hospitality has been given the green light to begin the transformation of the Four Points by Sheraton Sydney. Our remarkable development will refresh Sydney’s hotel, event and commercial landscape. The significant investment we’re making is a direct result of the level of confidence we have in both Sydney and the Australian hospitality market.”

M&L Hospitality’s CEO, Neil Maxwell, has held senior regional roles in the hotel industry in Australia and Asia-Pacific. Mr Maxwell said, “Since M&L Hospitality’s ownership of the Four Points by Sheraton Sydney in 2009, we have been committed to bringing out the hotel’s full potential through investment. The refurbishment of all 683 existing rooms is now complete and the development of the new tower will solidify the Four Points’ standing as an affordable but exceptional hotel experience in the heart of Sydney.”

The development will result in significant economic benefits to New South Wales through increased tourism revenue. In addition, it will bring a great number of construction jobs and long-term employment to the area.

The Four Points by Sheraton Sydney was the first of M&L Hospitality’s four hotel investments in Australia. Its other Australian properties are the Swissôtel Sydney, Travelodge Docklands, Melbourne and Citigate Melbourne. Its international portfolio includes best-in-class hotels in Australia, Singapore, New Zealand, Japan and the United Kingdom. Since its ownership of the Four Points by Sheraton Sydney, M&L Hospitality has refurbished all guest rooms. This refurbishment, together with upgrades to the hotel’s leisure and business facilities, will significantly enhance the experience of staying at the Four Points by Sheraton Sydney.
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