Crystalbrook Collection is soon to acquire The Fantauzzo, with an official handover set for 2021.
The purchase of the property from the Deague Group will mark Crystalbrook’s entry into Brisbane, adding to operations in Sydney, Byron Bay, Cairns, Newcastle, and Port Douglas.
Found underneath Brisbane’s Story Bridge and overlooking the Howard Smith Wharves, The Fantauzzo features 166 rooms and suites, the Italian Polpetta kitchen and bar, and the Fiume bar, along with a rooftop pool, a fitness centre, and meeting spaces.
Speaking on the pending acquisition, Ghassan Aboud, owner of Crystalbrook Collection, said: “Australia’s east coast is unlike anything else in the world and, as a company, we are pleased to be able to invest in and support the Australian tourism industry.
“Brisbane was the next logical step for us.”
Crystalbrook’s interim CEO and group director of hotels, Geoff York, said: “The Fantauzzo fits seamlessly with Crystalbrook Collection.
“The hotel is unique, full of personality and we love the location in the cultural hub of Howard Smith Wharves.”
The official handover of The Fantauzzo will occur in the first half of 2021.
Upon handover, the hotel will trade under Crystalbrook Collection, with the official new name to be announced in the coming months.
Until the acquisition is complete, the hotel will continue normal trading under the management of Art Series Hotels.
Now spanning from Tropical North Queensland to inner-city Sydney, Crystalbrook entered Australia in 2017 with the purchase of Crystalbrook Station, an 85,000-acre cattle farm three-hours west of Cairns. The working farm now supplies responsibly-farmed beef to Crystalbrook’s hotel properties.
The hospitality company’s current portfolio includes Little Albion in Sydney; Byron at Byron in Byron Bay; Riley, Bailey and Flynn in Cairns, and Kingsley in Newcastle.
Crystalbrook also owns and operates Crystalbrook Superyacht Marina in Port Douglas.