Star Entertainment Group will officially open their new hotel at the Star Gold Coast later this month ahead of the Commonwealth Games.
The new 17-storey hotel, “The Darling”, features 57 rooms ranging in size from 70sq m to 328sq m. The group is currently undertaking a $345 million refurbishment of The Star Gold Coast in Broadbeach.
The launch comes as the ASX-listed Star Entertainment recorded a first-half statutory net profit loss of 76.8 per cent to $32.9 million weighed down by $32 million of significant items and debt restructuring costs.
The group announced that it recorded normalised net profit of $120 million, up 12.4 per cent from the corresponding period, with chief executive Matt Bekier saying the performance of the Star’s Queensland properties had been “pleasing” in the first months of 2018.
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The Star Entertainment Group managing director Geoff Hogg said the Star team was preparing to finally unveil the hotel after three years.
“The Darling positions The Star Gold Coast at the premium end of the market and ensures the Gold Coast has an even more compelling value proposition as we seek to compete on a global scale for domestic and international visitors,” Hogg said.
Designed by Steelman Partners, the hotel was delivered by DBI Design and Probuild.
The Darling connects to the recently refurbished five-star hotel, The Star Grand.
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Pending successful pre-sales, the planned addition of the first mixed-use residential apartment and hotel tower on Broadbeach Island – the 53-storey tower The Star Residences – could be the first of up to five within a future master plan as part of a joint venture with Hong Kong-based partners Chow Tai Fook and Far East Consortium.
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Together, the refurbishment of the existing property and the development of both The Darling and the proposed hotel and residential tower would involve a combined investment of up to $850 million.
The Gold Coast is the second Star hotel to adopt The Darling brand joining The Darling at The Star Sydney.
Last month the Gold Coast Airport revealed plans for a $50 million Rydges-branded hotel as part of the airport’s Preliminary Draft Major Development Plan. It would include a four-star Rydges hotel in the precinct, featuring up to 200 rooms, conference facilities and a roof-top bar, swimming pool and restaurant.