Hotel plans revealed

A new hotel project at 63-69 City Rd, which is slated for completion in 2022, was announced by a Malaysian developer and British-based hotel group last month.

Currently home to the Photography Studies College (PSC), the site will see a 30-storey tower comprising 244 hotel rooms and commercial office space constructed in its place.

Malaysian-based integrated hospitality asset owner and developer Cornerstone Partners Group (CPG) announced its maiden mixed development project in Melbourne in partnership with UK hotel group Yotel.

CPG chief executive officer (CEO) Jason Chong said the company was thrilled to introduce its story to Australians, with a project “Southbank has never seen in the past.”

“Leveraging on our project development capabilities, Cornerstone Partners Group is focused on fulfilling gaps in hospitality markets across Asia Pacific,” Mr Chong said.

The project will also see the first Yotel, a “pioneer of sleek, technology-driven accommodation,” delivered in Australia.

Yotel is renowned for taking essential elements of luxury hotels into smaller, smart space, while incorporating a sense of community with areas for co-working, social gatherings and exercise.

“We are truly honoured to embark on a solid partnership with Yotel as we believe in Australia, there is an avenue for disruptive brands such as Yotel, which offer something completely new to the market,” Mr Chong said.

“We were also impressed by Yotel’s global development pipeline, focused on key gateway markets, which fits perfectly with our strategy. Therefore, it was only natural to join forces on our first project in Australia in Melbourne, one of the country’s most cosmopolitan and urbanised cities.”

The signing ceremony of the hotel management agreement between Chong and Yotel CEO Hubert Viriot was held in Sydney recently.