HOTEL SHORTAGE GIVES RISE TO CONSTRUCTION
Written on the 12 June 2014 by Laura Daquino
BRISBANE’s crammed hotels may have to put away their no vacancy signs thanks to at least five new hotel projects of the four and five star calibre.
“The level of construction activity taking place right now is helping rejuvenate the CBD and will ensure the city is even better prepared to host the big events.”
Pyman says construction is being spurred by the Brisbane City Council, which announced the incentivising of hotel developments in 2011.
“A program that waived infrastructure charges for developers of four and five star hotels, as long as they commenced construction within two years of approval, has had a significant impact on Brisbane’s construction levels – it can save developers approximately $100,000.”
Holding Redlich is acting for the developer or builder in a range of current CBD hotel projects: Lennon’s Hotel, Emporium South Bank, Capri Albert Street and a new hotel precinct at Brisbane Airport.
The hotel projects are meeting the Queensland Government's long-term plan to grow the tourism and construction sectors into two of the four pillars of the State's economy.