Under a management agreement with Ledrae Hotels, Hilton will manage a new-build hotel in Parramatta, one of the fastest-growing suburbs of Sydney, Australia.
Construction starts this quarter on the 245-room Hilton Parramatta, which is slated to open in late 2020. The hotel will offer three meeting spaces, an executive lounge, a signature restaurant, bar, fitness center and outdoor pool.
“The signing of Hilton Parramatta is the latest example of Hilton’s commitment to growing our portfolio within fast-emerging business and leisure markets,” said Sean Wooden, VP of brand management for Asia-Pacific at Hilton. Hilton Hotels & Resorts has a portfolio of 101 properties in the region.
Parramatta's Appeal
Located 25 kilometers west of Sydney’s central business district, Parramatta is a major business and commercial destination and is home to many federal and state government department centers.
The area has been attracting investment for several years now as Sydney's central business district struggles with oversupply.
“We have owned the building on the corner of Macquarie Street and Marsden Street since 1994 and look forward to this exciting transformation,” said Lionel Chang, director of Ledrae Hotels. “With Macquarie Street being the oldest and most well-known street in Parramatta, we cannot think of a better address for what will be a fantastic hotel.”