Hyatt Hotels Corp. has entered into a management agreement with M&L Hospitality for a Hyatt Regency hotel in Sydney, Australia. The hotel, a former Four Points by Sheraton, will be rebranded to Hyatt Regency Sydney at exactly midnight on November 30 and will mark the Hyatt Regency brand’s return to Sydney.
Prior to opening, the hotel will undergo a $250 million redevelopment and renovation. A planned expansion expansion will include a new 24-story tower and 222 additional guestrooms. When the expansion is completed, the hotel will have 892 guestrooms, making it the largest upscale, full-service hotel in Australia.
“We are thrilled to work with M&L Hospitality to bring the Hyatt Regency brand back to Sydney,” David Udell, group president – Asia Pacific, Hyatt Hotels Corporation, said in a statement. “Hyatt hotels have been operating in Australia for more than 30 years, providing a solid foundation for future growth in what is a dynamic market.”
Hyatt Regency Sydney will open during a time of growing demand for both business and leisure travel in Australia. According to the Australian Bureau of Statistics, the market saw 7.6 million visitor arrivals for the year ending February 2016, a 9-percent increase compared to the previous year.
The hotel is reportedly owned by Singapore’s Kum family.