Packer dream for world’s best hotel

Packer dream for world’s best hotel
By admin

James Packer’s Crown empire is set to expand to Sydney with the development of “the best hotel in the world” at Barangaroo.

The move was announced just 24 hours after Crown unveiled plans to build a 500-room property at Burswood Entertainment Complex in Perth (see story page 2).

In a statement issued this morning, Crown Limited said it has signed a exclusive deal with Lend Lease Corporation to develop what it called a “world class, six star hotel resort” in Sydney.

The agreement will give Crown two years to reach a pact with Lend Lease on “key milestones” and to obtain planning approvals from the Barangaroo Delivery Authority and the state government.

“Sydney deserves one of the world’s great hotels on its magnificent harbour,” Crown executive chairman James Packer said. “My desire is for Crown to build the best hotel in the world at Barangaroo. Crown’s record demonstrates we can deliver a centrepiece that will draw millions of tourists.”

Such a development would boost the economy, create thousands of jobs and contribute significant tax revenues to the New South Wales government, he said.

“It would enhance the overall attractiveness of Sydney as a first class international tourists destination,” Packer added. “We look forward to working with Lend Lease to bring the internationally recognised Crown brand to Sydney.”

Among the possible features of the property could be a VIP only gaming area which would be necessary to provide the “commercial underpinning” for the development.

The ability to operate a VIP facility is subject to state government and gaming regulatory approval.

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