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Global hotel heavyweight Accor has revealed the Tasmanian debut for its Pullman brand as another Pullman comes to market in Queensland.
The project by Tasmanian urban regeneration specialist Red Panda Property has been designed by DKO and will regenerate an educational facility into a 139-key hotel with restaurants, bars, and meeting and events spaces at Launceston.
The hotel is part of a $95-million plan to redevelop the Launceston TAFE campus into a retail and entertainment precinct that was approved in November.
The five-star Pullman will be Red Panda’s first hotel and is expected to be completed in the first half of 2027.
The site is on a hillside on Wellington Street overlooking the city.
The hotel tower will be the second tallest building in Launceston and will have views of the city and Tamar River. The top of the hotel will feature a rooftop bar showcasing local produce and wines from the Tamar Valley.
Red Panda Property director Andrew McCullagh said the project would “significantly elevate Launceston’s tourism infrastructure while delivering economic and cultural benefits to the community”.
“Preserving Launceston’s heritage was our foremost consideration, and our plans to regenerate the area will enable visitors to enjoy a rich combination of history and modernity in the one precinct,” he said.
“With the Queen Victoria Museum and Art Gallery and Royal Park as neighbours, we will build a natural linkage to other recent developments and the Seaport precinct where guests can take river cruises.”
Accor has 19 properties under the Pullman name in Australia.
That includes the Pullman Cairns International, which has been listed for sale by Prime Value’s Shakespeare Property Group after nine years of ownership.
The five-star city centre hotel is on a 8139sq m site and comprises 324 guest rooms, 11 conference and meeting rooms, a lobby bar, a day spa and gymnasium facilities, and basement parking for 184 cars.
CBRE Hotels’ Michael Simpson, Wayne Bunz and Hayley Manvell are managing the sale via an expression-of-interest campaign to be launched this month.
Accor Hotels manages the property under the Pullman brand, but vacant possession of the hotel, which underwent a $17-million refurbishment in 2021, was available upon sale, CBRE said.
The asset also includes a two-level, 2644sq m retail and commercial arcade, Village Lane, with 23 tenancies.
“This is arguably Cairns’ best hotel and has immense potential due to its central location, extensive size, and various value-add opportunities,” Simpson said.
“These factors are expected to generate significant interest from domestic and international investors.”
Average hotel room rates in Cairns have risen by 41 per cent on pre-pandemic levels.
As at the end of December 2023, international visitation was 21 per cent, a decrease from the pre-pandemic level of 45 per cent.
However, CBRE said, with the gradual recovery of the international inbound market, particularly from China, there was optimism around future hotel performance.
Current owners Shakespeare Property Group has been active during the past month, acquiring the Woolstore 1888 Hotel in April.
The Woolstore 1888 is a freehold property converted from a wool store built in 1888 into a higher-end hotel in 2013 at Sydney tourist precinct Darling Harbour.
The five-level sandstone and brick building comprises 90 guest rooms over four floors, and a 626sq m footprint on a freehold title.
This week Shakespeare announced its new acquisition would be managed by Accor under its Handwritten Collection brand.
Formerly an Ovolo Group property, the Hong Kong-based group, part of Hind Hotels & Properties Ltd, acquired the Woolstore 1888 in 2014 and undertook renovations in 2022.
Hotel Woolstore 1888 is the fifth hotel Shakespeare has partnered with Accor on in Australia.
As well as the Pullman Cairns International, the two are partners in the Novotel Cairns Oasis Resort, Novotel Sunshine Coast Resort and Peppers Marysville.
