Hong Kong company Far East Consortium has signed an agreement with the Ritz-Carlton Hotel Company to develop a Ritz-Carlton in Melbourne.
Located at 250 Spencer Street, the Ritz Carlton hotel will be the centrepiece of a large scale mixed use property project in the Melbourne CBD.
The 250-room hotel will be the tallest hotel in Australia and will be located on levels 64 to 79 in one of four towers in the development. The project will also include residential apartments, retail shopping outlets and restaurants.
The announcement marks the second luxury hotel FEC will bring to Australia, following the announcement last year it is developing a Ritz-Carlton hotel at Elizabeth Quay in Perth.
FEC Chairman David Chiu said the company was delighted to bring an international luxury brand to Perth and now Melbourne.
“We believe Australia has plenty of opportunities in the tourism industry. The country has many unique offerings, which is driving the growth in tourist arrivals,” he said.
The company is currently awaiting the outcome of its joint tender with partners Echo Entertainment Group and Chow Tai Fook Enterprises Limited for the Queens Wharf Brisbane project in the Brisbane CBD.