$700m Andaz Hotel development coming to Sydney CBD in 2022
Woods Bagot’s winning scheme for the new 55-story tower will be built in the city’s central business district at 4-6 Bligh Street. Creating two addresses—one for the 400-room hotel operated by Andaz Hotels by Hyatt and the other for commercial uses.
Strong investor demand combined with a lack of stock, very limited supply growth and sustained outperformance have created a perfect storm for Sydney’s five-star hotel market.
Scarcity sees Sydney five-star hotel room values soar Michael Simpson Savills Hotels
The rarer a commodity the higher its price. Strong investor demand combined with a lack of stock, very limited supply growth and sustained outperformance have created a perfect storm for Sydney’s five-star hotel market, according to Savills Hotels.
