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JLL advises Canberra Airport
JLL' s Hotels & Hospitality Group is pleased to have assisted Canberra Airport in the selection of an operating partner for a new hotel to be built adjacent to the airport's new terminal. Scheduled to open late 2015, Toga Far East Hotels (TFE Hotels) will operate the new hotel under the Vibe Hotel brand. Karen Wales, Executive Vice President – Research & Consulting and Ross Beardsell, Senior Vice President – Strategic Advisory, Hotels & Hospitality Group led the selection process on behalf of Canberra Airport.
"The value created for Canberra Airport, winner of Australian Airport Association (AAA's) Australia's Capital City Airport of the Year 2013, tourism and aviation industries will be ensured through its partnership with TFE Hotels," said Mr Beardsell. "This successful union of owner and operating partner further demonstrates JLL's industry leading ability to blend global experience with local knowledge."
Canberra Airport Managing Director Stephen Byron said, "JLL's Hotels & Hospitality Group conducted a timely and professional operator selection process and Vibe Hotels was chosen as the winning brand with TFE Hotels' understanding of the brief best aligned with our vision for the future."
TFE Hotels, a joint venture between Toga Group and Far East Orchard (FEO), is a leading operator in Australasia with a network of over 65 accommodation assets (upwards of 9,000 rooms) across Australia, New Zealand and Europe. Currently operating a range of popular brands including, Medina Serviced Apartments and Rendezvous Hotels, the 4.5-star Vibe Hotel Canberra will be amongst good company.
Canberra Airport's new AUD480 million terminal opened in March 2013. Currently handling approximately three million passengers each year, the new facilities were built with the goal to smoothly process up to eight million domestic and international passengers a year. The new state-of-the-art terminal also incorporates art works, business areas and lounges.
"The expansion of Canberra Airport is expected to underpin accommodation demand over the medium term and could well be enhanced should the Airport be successful in attracting short haul international flights. The nation's capital is the home of Parliament House, the High Court and numerous Government departments and agencies. It is also the location of many national cultural institutions and attractive to international and domestic visitors alike." said Mrs Karen Wales, Executive Vice President – Research & Consulting, Hotels & Hospitality Group.
She added "Canberra's accommodation market is widely regarded as undersupplied with little change in net supply over the past eight years and a perceived lack of quality branded product. New product which has been developed has largely been developed by local groups and owner operated."
Construction of the Bates Smart-designed Vibe Hotel Canberra will commence in May this year. The end result will be a 191-room business travel focussed hotel conveniently located just 150 metres from the new terminal and minutes from the CBD. The hotel will be centred around a full height atrium featuring a large ground floor intermingle zone with reception, bar, restaurant and conferencing facilities.
Executive Vice President – Research & Consulting
+61 2 9220 8779
Senior Vice President – Strategic Advisory
+61 2 9220 8784
+61 2 9220 8787