Hyatt Hotels Corporation has revealed at the 9th annual Australasian Hotel Industry Conference and Exhibition (AHICE) in Melbourne today (May 2) that a Hyatt affiliate has entered into a management agreement with PEC Portfolio Springvale Pty Ltd for a 200-key Hyatt Place hotel in Melbourne.
“We are delighted to expand the Hyatt Place brand in Melbourne, Australia’s second largest city,” said Asia Pacific group president David Udell, Hyatt Hotels Corporation.
“The hotel will mark the tenth Hyatt-branded hotel in Australia and it will be a great addition to Hyatt’s brand footprint in Melbourne, which includes Park Hyatt Melbourne, Grand Hyatt Melbourne and Hyatt Place Melbourne Essendon Fields,” he said.
Hyatt Place Melbourne Springvale will be located at at the intersection of Springvale and Dandenong Roads in the heart of the Monash Employment and Innovation Cluster, an area that is home to a number of academic institutions, businesses and medical facilities. Hyatt Place Melbourne Springvale will become the second Hyatt Place hotel in Australia upon its expected opening in 2020.
The hotel will be developed by PE Capital, one of the leading boutique investment management firms in Australia, and will form part of a mixed-used complex, which will also include co-working facilities and retail stores.