SINGAPORE's Hiap Hoe has signed a deal with Starwood Hotels and Resorts to manage the two hotels developments proposed at 6 – 22 Pearl River Rd and 380 Lonsdale St in Melbourne.
A third hotel at 206 Bourke St is also currently under review.
Hiap Hoe executive director Tracy Wun said each hotel attracts a different target market.
“For the Lonsdale St site, we acknowledge the close proximity of universities and the Melbourne CBD retail core and we project corporate travellers will be attracted to the Docklands site,” she added.
Hiap Hoe made a big splash into the Melbourne property scene late last year, when it bought 6-22 Pearl River Rd at NewQuay Docklands from MAB Corporation for $28.8 million, 380 Lonsdale St from KT Lim’s Victoria Investments & Properties Pty Ltd (VIP) for $43.8 million and paid $105 million for 206 Bourke St.
Property Review
