Toga Far East Hotels (TFE Hotels), a joint venture between Toga Group and Far East Orchard, will build and operate a new Vibe branded hotel at Canberra Airport.
The $50 million Vibe Hotel Canberra is a 191-room business travel focused hotel located just 150 metres from the new terminal at Canberra Airport.
TFE Hotels is a leading operator in Australasia with a network of over 65 accommodation assets and 9,000 rooms across Australia, New Zealand and Europe.
Construction of the
Bates Smart-designed, $50 million Vibe Hotel Canberra will commence in May this year.
The hotel will be centred around a full height atrium featuring a large ground floor intermingle zone with reception, bar, restaurant and conferencing facilities.
Canberra Airport's new $480 million terminal opened in March 2013 and is currently handling approximately three million passengers each year. The new facilities were built to handle up to eight million domestic and international passengers a year. The new state-of-the-art terminal also incorporates art works, business areas and lounges.
Karen Wales, Executive Vice President, Research & Consulting and Ross Beardsell, Senior Vice President, Strategic Advisory, Hotels & Hospitality Group - led the selection process on behalf of Canberra Airport.
"The value created for Canberra Airport, winner of Australian Airport Association (AAA's) Australia's Capital City Airport of the Year 2013, tourism and aviation industries will be ensured through its partnership with TFE Hotels," said Mr Beardsell.
"The expansion of Canberra Airport is expected to underpin accommodation demand over the medium term and could well be enhanced should the Airport be successful in attracting short haul international flights. The nation's capital is the home of Parliament House, the High Court and numerous Government departments and agencies. It is also the location of many national cultural institutions and attractive to international and domestic visitors alike." said Mrs Wales.
She added "Canberra's accommodation market is widely regarded as undersupplied with little change in net supply over the past eight years and a perceived lack of quality branded product. New product which has been developed has largely been developed by local groups and owner operated."
Vibe Hotel, Canberra Airport is scheduled to open in late 2015.