The agreement increases Park Hotel Group’s portfolio to nearly 20 hotels in operation or under development.

“We are thrilled to introduce Park Hotel to Melbourne and bring the upscale brand’s culturally rooted, globally inspired hospitality to travellers and locals in this city,” said Allen Law, Chief Executive Officer of Park Hotel Group.

“Backed by strong fundamentals and increased demands in the domestic and international visitor markets, I am optimistic and excited for Park Hotel to be a part of the vibrant hotel landscape of Melbourne, which has seen over 80 per cent hotel occupancy in 2018.”

The 23-storey Park Hotel Melbourne will feature 319 guest rooms and suites, a lobby lounge, a concept restaurant and bar with alfresco terrace seating on the eighth floor as well as a fitness centre. The new-build hotel will offer five versatile function rooms that can be combined into a ballroom to accommodate meetings and events ranging from 20 to 200 persons.

Teo Hong Lim, Executive Chairman & Chief Executive Officer of Roxy-Pacific commented, “Conveniently located in the heart of Melbourne, the new Park Hotel Melbourne is a continuation of the Group’s strategic efforts to strengthen our hospitality and is in line with our plans to grow our stable of recurring income streams. As a popular tourist destination, tourism in Melbourne grew significantly in 2018.

See also: Ibis Glen Waverley Melbourne Hotel for sale

Going forward, Australia’s tourism and hotel sector is expected to record strong growth in the coming years, likely to exceed the country’s broader economic growth, and should augur well for the new hotel.”

Park Hotel Melbourne, designed by Bates Smart, one of Australia’s notable architectural and interior design firms founded in Melbourne, will pay homage to the unique attributes of Little Bourke Street and its neighbourhood. The hotel façade will reflect the old red brick warehouses and architecture in the surrounding precinct.

Taking inspiration from Kirk’s Bazaar, a lively horse and livery trading centre in the mid-1800s within the vicinity, the hotel interiors will have semblances of the city’s yesteryears. The décor features tumbled tile flooring, timber cladding and saddlery accents with contemporary, sleek furnishings to evoke curiosity and a sense of discovery. Designed to engage locals and visitors of the city, the bustling bar in the lobby will welcome guests on arrival with a flavour of the distinctive laneway culture of Melbourne.

Located on the main thoroughfare of Little Bourke Street, guests staying at Park Hotel Melbourne can enjoy a myriad of lifestyle, arts and entertainment options in the central business district.

Popular local restaurants, bars and cafés are in abundance within the vicinity. Guests will also have easy access to shopping havens such as Emporium Melbourne and Bourke Street Mall that are a few minutes’ walk from the hotel. Being in the heart of Melbourne city, Park Hotel Melbourne will be a natural choice for guests wanting convenient access to explore the capital.

Melbourne, capital city of the state of Victoria, Australia, welcomed 31.5 million visitors for the year ending September 2018, marking a significant 11.6 per cent growth year-on-year. Among many things, the city destination, one of the world’s most liveable cities, appeals to travellers around the world for its brilliant street art, lively music scene and its offbeat creativity.

See major hotel projects in Melbourne:

New York and Miami based brand '1 Hotel' announced for Melbourne Northbank Seafarers project

$80m Mantra Epping Melbourne hotel opening May 2019

Holiday Inn hotel opening in Melbourne South East suburb Dandenong

Zagame family announce new luxury hotel Zagame's House opening in Carlton, Melbourne

$130m Hotel Chadstone Melbourne, MGallery by Sofitel opening November 2019

Pellicano and Zagame release plans for $100m water park in Dingley Village, Melbourne

Marriott's Moxy hotel brand to debut in Australia

Largest Quest Apartment Hotel Opens In Melbourne's Docklands

Shadow Play by Peppers Melbourne Hotel opening April 2019

IHG launches 'voco Melbourne Central' hotel to be part of ‘380 Melbourne’ development

See sold hotels in VIC

Falls Creek and Hotham ski fields sold to Vail Resorts for $174m

BPM Flinders Lane Melbourne hotel project sold to InterGlobe for $91 million

See hotels for sale in VIC:

Wayside Inn Melbourne Hotel for lease - Will Connolly CBRE Hotels

The Leinster Arms Hotel Melbourne Collingwood pub for sale