Crown Group to move in to serviced apartment sector

George Sell By George Sell
15 August 2016 | Updated 15 August 2016

Australia: Luxury residential developer Crown Group has announced plans for its first serviced apartment project.

Sydney-based Crown Group will offer a range of suites as a complement to its apartment towers in the city.

Its first project, known as the Skye Hotel Suites, will open in the Sydney suburb of Parramatta in early 2017 and will form part of the 29 storey, V by Crown Group development.

Crown has appointed Wayne Taranto as director of hotels and suites. He has held senior management roles with Amalgamated Holdings, now Event Hospitality & Entertainment, and Accor Hotels, where he was the general manager of Sofitel​ Sydney Wentworth.

Taranto said: "We see there is strength in the hotel sector, particularly in Sydney, which has an undersupply of high-end luxury serviced apartments and suites. The aim is to offer traditional hotel services with apartment-style accommodation that will cater for business and leisure travellers."

Taranto said the three locations of Parramatta, Green Square and Kent Street, in Sydney city, have been identified as the growth locations. The group will eventually expand interstate and overseas.

"We will focus on the east coast of Australia and once established in Sydney, will look at Melbourne, then Queensland, Perth when the market improves, and then Indonesia, where Crown was born."

Crown Group chief executive Iwan Sunito​ said: "We are pleased to announce the debut of Skye Hotel Suites in Sydney, the first of many around the world. Our vision is to create a collection of suites which will set a fresh lifestyle standard in Sydney. Parramatta is a powerhouse for innovation and business, attracting some of the best and brightest talent from across Australia and the world. With the phenomenal growth of western Sydney, the potential for the city is enormous."

"Asia is booming, and with it more and more people travel to Australia for holidays and for business. This has created a gap in the market as the demand increases for luxury hotel-style serviced apartments in Sydney and Australia. Expanding into the transient short-term accommodation market will provide a strong foundation for our continued expansion ,both locally and across the region," he added.

www.crowngroup.com.au

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