(AUSTRALIA) – SH Hotels & Resorts, an eco-conscious global hotel chain with strong financial backing from US billionaire investor Barry Sternlicht, known for founding Starwood Hotels, is set to expand its luxury Baccarat brand into Australia as part of its extensive regional growth strategy.
With the countdown to the opening of its first Australian property, a 1 Hotel located on Melbourne’s Yarra River, SH Hotels CEO Raul Leal has revealed plans to explore opportunities in Sydney for the flagship Baccarat brand.
Melbourne also remains a potential market for a Baccarat hotel. Leal emphasized that the Australian market lacks luxury hotel offerings, especially at the level of sophistication associated with the Baccarat brand.
Currently, there is only one Baccarat hotel worldwide, a lavish 50-story skyscraper near Central Park in New York, which debuted in 2015.
Several more Baccarat hotels are in development, including locations in Miami, Dubai, Rome, and Riyadh.
SH Hotels expands in Australia with treehouse and 1 hotel projects
The Baccarat brand draws inspiration from the renowned French crystal and chandelier maker of the same name, featuring exquisite design elements such as custom chandeliers, opulent bars, and high-end European designer products.
SH Hotels’ expansion in Australia also includes the addition of a Treehouse Hotel in Adelaide, scheduled to open as part of the Market Square development by ICD Property and the City of Adelaide in 2026.
This 248-room “upbeat lifestyle” hotel will be housed within the historic Adelaide Central Market, dating back to 1869.
In Melbourne, the first 1 Hotel in Australia is taking shape as part of the Seafarers project by local developer Riverlee.
This 18-story development, set to be completed by the end of 2024, incorporates sustainable practices by using reclaimed and recycled materials and repurposing the maritime goods shed from 1941.
Australia is positioned as a key hub for SH Hotels’ expansion in the Asia Pacific region. The company intends to grow its three hotel brands—Baccarat, 1 Hotel, and Treehouse—in different parts of the country.
To facilitate this expansion, SH Hotels plans to establish a regional office in Australia and appoint a local manager, with the expectation of embarking on multiple projects in the country over the years.
SH Hotels & Resorts, an affiliate of the global private investment firm Starwood Capital Group, has approximately $115 billion in assets under management.
Barry Sternlicht, the founder of Starwood Hotels, previously merged it with Marriott International in 2016, creating the world’s largest hotel company.
Australia, with its untapped potential and numerous opportunities, is seen as an attractive destination for SH Hotels’ strategic growth endeavors.
