SYDNEY / SINGAPORE, 27 OCTOBER 2016 – M&L Hospitality, the Singapore-based real estate investment group, will grow its stake of Sydney’s Central Business District hotel accommodation with the commencement of its new hotel development at 65 Sussex Street.
Multiplex, a leading international contractor, has been appointed to deliver the hotel due for completion in Q4 2017. Designed by Architects Fitzpatrick + Partners, the unique mid-scale hotel property will boast an 8 level tower with a distinctive geometric facade, 182 guest rooms including 4 suites, an internal courtyard, meeting space, restaurant and bar.
Artist’s impression of 65 Sussex Street, Sydney
Mr David Ghannoum, Regional Managing Director NSW at Multiplex, said the company was excited to deliver another new hotel to Sydney’s CBD off the back of its successful redevelopment of 161 Sussex Street Sydney for M&L Hospitality.
“Multiplex has extensive experience delivering high-quality hotels and entertainment facilities, and we are delighted to continue to build upon our relationship with M&L Hospitality,” said David Ghannoum.
The second project for M&L Hospitality, Multiplex is currently completing the final phase of M&L Hospitality’s AUD $250 million redevelopment of 161 Sussex Street Sydney, which is set to be rebranded as the Hyatt Regency Sydney on 1 December 2016.
“We are pleased to start the construction of our new hotel property at 65 Sussex Street. Multiplex delivered an excellent result for M&L Hospitality with our 161 Sussex Street project finishing ahead of schedule,” said Neil Maxwell, Chief Executive Officer, M&L Hospitality.
“With programme a critical consideration of the 65 Sussex Street hotel project, we look forward to continuing our good working relationship with Multiplex to deliver this unique hotel by Q4 2017.”
About M&L Hospitality
M&L Hospitality is a Singapore-based real estate investment trust with an international portfolio of best-in-class hotels. M&L Hospitality has experienced exponential growth since the trust acquired the Four Points by Sheraton in Sydney in 2009. Its portfolio now contains 13 hotels in operation and a further 3 hotels under construction, due to open in 2017, with properties in Singapore, Australia, Belgium, the Netherlands, New Zealand, and the United Kingdom. M&L Hospitality’s hotels are in prime, central locations in international gateway cities. They are operated by the most recognisable international brands, including Accor, Hilton, IHG, Rezidor, Starwood, Hyatt, Travelodge and Swissôtel. M&L Hospitality’s hotels are modern and functional, and appeal to the corporate, leisure and MICE markets.
M&L Hospitality is a market leading, dynamic and nimble investor headed by passionate hotel experts. Its management team are well networked internationally to secure the best investments. They are also actively involved in M&L Hospitality’s hotels, using their combined decades of experience to optimise investment value. M&L Hospitality prides itself on preserving and growing wealth through sound investment strategy. The trust’s investment model is not constrained by borders, allowing its management to apply their industry expertise on a global scale. The geographical diversity of the M&L Hospitality portfolio is designed to capture global growth while hedging against cycles in different markets.
At the heart of the M&L Hospitality ethos is the application of business acumen and foresight to uncover value and potential. The trust’s management team aim to seek out long-term investments in stable cash-flow generating property assets. M&L Hospitality was created by the Kum family and is run with the flexibility of a family business. It aims to keep this dynamic model as it grows by acquiring more best-in-class hotels.
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