Canberra construction giant Geocon has signed an agreement with Marriott International regarding its $200 million Midnight hotel in the inner-city suburb of Braddon.
The hotel, which is independently owned and operated by Iconic Hotels, the hotels division of Geocon, will be Marriott’s first premium hotel in the ACT market, under its Autograph Collection.
Marriott’s signature is a major coup for Geocon, which had been marketing the hotel component of its $200 million Midnight development to potential buyers and operators since October last year.
Marriott International, the world's biggest hotel operator, operates an asset-light model, partnering with developers and investors on new builds, which it then leases or operates under a management agreement.
The Fender Katsalidis-designed hotel will sit alongside a 250-home apartment complex as part of Geocon's revamp of the former NRMA House in Braddon adjacent to the Elouera Street station of the Canberra Metro light rail.
The 199-room hotel will include a restaurant, bar, conference room and indoor pool.
The mixed-use Midnight complex, which is due for completion next month, will also include 250 apartments at the site of the old NRMA House on Northbourne Avenue.
Midnight Hotel will be the second hotel for the brand to open in Australia, following the recently renovated Pier One Sydney Harbour, Autograph Collection.
“Canberra is in a period of unprecedented growth, with demonstrated year on year increase in domestic and international travel to our city,” Geocon managing director Nick Georgalis said.
“Our collaboration with Marriott International through Iconic Hotels perfectly aligns with this growth and enables us to cater for increased hospitality demands on a global scale as well as promote Canberra on an international stage.”
Georgalis said the hotel would help cater to Canberra's booming visitor economy.
Canberra is currently in the midst of a hotel boom, with industry's peak body in the ACT predicting the number of rooms will grow by 30 per cent in the next two years.
The latest national figures showed Canberra welcomed a record-high 2.92 million domestic tourists in the 12 months to May 2019, up 170,000 from the 12 months prior.