Pro-Invest will develop the first new hotel in three decades on the Sunshine Coast as part of the new $2.1 billion town centre in Maroochydore.
The nine storey, 167 room hotel is slated to open late 2020, marking the developer’s second Pro-Invest hotel project in Queensland.
Pro-Invest, an investment and development company, said it will finance, develop and operate the hotel as the Holiday Inn Express & Suites, which it plans to launch around the same time as the new internationally-capable runway at Sunshine Coast Airport.
While hotel developments have been proposed for the Sunshine Coast in recent years, Pro-Invest chief executive Ronald Barrott said they were still “a long way from being realised”.
“Investment for the Sunshine Coast hotel will come from Pro-Invest’s Australian Hospitality Opportunity Fund II, with Pro-Invest responsible for the construction, launch and management of the hotel.”
Pro-Invest negotiated the hotel site acquisition from the Sunshine Coast Council and Economic Development Queensland.
The Sunshine Coast's central business district, formerly Horton Park Golf Club which spans a 15-hectare site, was purchased by the Sunshine Coast Council for $42 million in 2015.
Visit Sunshine Coast chief executive Simon Latchford says the region has attracted 3.9 million visitors, an increase of 15 per cent over the 12 months to March 2018.
Pro-Invest opened the Holiday Inn Express in Brisbane Central in 2017, the company is in the process of securing another site for its 13th hotel.
“Three more hotels are scheduled to open in the next 12 months, followed by another five in 2020-2021,” Barrott said.
Earlier this month Stockland sold a 50 per cent share of its largest masterplanned community, a 20,000 lot estate on the Sunshine Coast, to private developer Capital Property Group led by billionaire Terry Snow.