Four Points by Sheraton Expands Its Footprint in Melbourne

SYDNEY--(BUSINESS WIRE)--

Starwood Hotels & Resorts Worldwide, Inc. HOT is forging ahead with its aggressive growth strategy in Australia and the Pacific with the signing of Four Points by Sheraton Melbourne Docklands. The hotel is owned by Meteorite Land (Pearl River) Pty Ltd as trustee for Meteorite Land (Pearl River) Unit Trust, and will be operated by Hiap Hoe Limited (“Hiap Hoe”), a Singapore Mainboard-listed regional premium real estate group with a diversified portfolio of hospitality, retail, commercial and residential assets. Set to open in January 2017, Four Points by Sheraton Melbourne Docklands will be ideally located in the newly developed Digital Harbour Precinct in Melbourne Docklands.

“Starwood's growing footprint in Australia is well-aligned with the increased global demand we are seeing for quality lodging in the country,” said Sean Hunt, Vice President, Starwood Hotels & Resorts Pacific. “With our globally-recognized, nine design-led brands, strong sales platform and leading loyalty program, Starwood is well positioned to help our partners grow and meet the needs of the next generation of travellers. Four Points will offer a fresh option for travellers looking for timeless comfort and great service in Melbourne.”

The new-build Four Points by Sheraton Melbourne Docklands will be located on the corner of Harbour Esplanade and Dudley St in the Digital Harbour at the north western end of the rejuvenated suburb of Docklands precinct. The upscale property, designed by award-winning architectural company dKo, will comprise part of the landmark and much anticipated “Marina Tower Melbourne”, a magnificently designed urban development project converting 3,795 square metres of prime harbour side land into a mixed use residential and commercial precinct.

“As the country's second most populous city, high hotel occupancy rates and a key Australian city for both leisure and business travellers, we have been actively seeking to establish the Four Points brand in Melbourne for some time,” said Andrew Taylor, Director, Acquisition & Development, Starwood Hotels & Resorts Pacific. “We are delighted to announce this partnership with Hiap Hoe and look forward to working with them to ensure that Four Points by Sheraton Docklands sets a new benchmark for hotels and becomes the city's leading upscale hotel in terms of its location, comfortable accommodation and flexible meeting facilities.”

Mr Teo Ho Beng, Executive Chairman / Chief Executive Officer of Hiap Hoe said, “With Melbourne's healthy economy and status as a key tourist destination, we identified strong investment opportunities underpinned by the scarcity of and demand for quality hotel accommodation. This hotel in Docklands is a key component of our maiden flagship mixed-use development in Australia and we strongly believe that Four Points by Sheraton was the brand most closely aligned with our commercial objectives and vision for this development.”

Four Points by Sheraton Melbourne Docklands will feature 269 guest rooms including 18 suites with each guest room offering guests stunning harbour and city views. The hotel will also offer three food and beverage venues including a signature restaurant, a deli-style cafe for quick bites, and the hotel's signature bar for guests to enjoy a great local beer as part of the Four Points Best Brews™ program. Additionally, the hotel's recreational facilities will include a gym/fitness facility, a 25-metre outdoor heated swimming pool and an outdoor deck area. Ideal for meetings and events, Four Points by Sheraton Melbourne Docklands will offer excellent services for conference, meetings and business guests with flexible meeting and function space totalling 530 square metres.

Ms Tracy Wun, Hiap Hoe's Executive Director, said, “This new hotel in Docklands is part of our strategy to expand our hospitality business and to further build recurring incomes. Docklands continues to evolve as Australia's most exciting urban renewal project and with its close proximity to the CBD and Melbourne's tourist highlights, is an attractive location for our first overseas hotel. Four Points by Sheraton Docklands is strategically positioned in a vibrant catchment area that will see strong demand from business and leisure travellers.”

Conveniently located approximately 20-30 minutes from the airport, the Four Points by Sheraton Melbourne Docklands also offers easy access to Melbourne's CBD (walking distance or a short tram ride). Docklands boasts several kilometres of Yarra River and Victoria Harbour water frontage lined with apartment buildings, restaurants, retail outlets and open space. Notable landmarks nearby include the Etihad Stadium and Southern Cross Station.

Four Points by Sheraton Melbourne Docklands will join Starwood's robust portfolio of 13 hotels at a time of unprecedented growth for the brand in the Pacific region. Earlier this year, Starwood announced its expansion in Perth with the signings of The Westin Perth and Aloft Perth Rivervale. In 2014 the company has opened three hotels in Australia and the Pacific – Sheraton Melbourne Hotel, Four Points by Sheraton Brisbane and Sheraton Resort & Spa, Tokoriki Island in Fiji – with another two additional hotels in Samoa to be opened by the end of the year. Four Points by Sheraton Melbourne Docklands will supplement the Four Points by Sheraton brand's already strong presence in Australia, with hotels in Perth, Sydney, Geelong and Brisbane.

For more information on Four Points by Sheraton please visit starwoodhotels.com/fourpoints.

About Starwood Hotels & Resorts Worldwide, Inc.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

About Hiap Hoe Limited

Singapore Mainboard-listed Hiap Hoe Limited is a regional premium real estate group with a diversified portfolio of hospitality, retail, commercial and residential assets. The Group is known for the development of luxury and mid-tier residential and hotel-cum-commercial properties that are distinctive in design and preferred for their excellent location and investment prospects.

In Singapore, Hiap Hoe also owns the Zhongshan Park Integrated Development, an integrated hotel-cum-commercial development located along Balestier Road comprising Days Hotel Singapore at Zhongshan Park, Ramada Singapore at Zhongshan Park, Zhongshan Mall and an office tower

In 2013, Hiap Hoe embarked on its strategic overseas expansion plans, acquiring assets in three prime locations in Melbourne, Australia: 6-22 Pearl River Road, 380 Lonsdale Street and 206 Bourke Street. In February 2014, Hiap Hoe further expanded its presence into Western Australia with the acquisition of 130 Stirling Street, an A-grade commercial building located along the northern fringe of Perth's CBD.

In addition to the Group's core business of property investment and property development, Hiap Hoe is also engaged in the construction business. More information on Hiap Hoe can be found at http://www.hiaphoe.com