SANAD Capital Set its Eyes on Hospitality for the Sunshine Coast
Updated: Feb 15, 2018
With phase one development approval in hand, the company allies with top global hotel consultant for hotel roll out plan; envisaged to open in 2020
Australia’s first ‘Active Lifestyle’ project, code named ACTVE, is set to submit phase two of the project comprising of an approximately 200 room, upscale hotel, which will be built on the north west sector of the plot, next to the entrance.
The Sunshine Coast Council gave the green light for phase one of the project and bulk earthworks are set to begin within the coming months.
The hotel will comprise of restaurants, a sports bar and lounge, pool bar and grill, fitness and leisure facilities as well as kids and teenage clubs. A convention and meetings center is planned to cater for business travelers, as well as for meeting and incentive groups of Sunshine Coast organizations.
“Hotel accommodation is a vital tool in the Sunshine Coast’s growing tourism arsenal, and we aim to provide top notch services and amenities to help in attracting tourists to visit and stay longer in the area,” said Bradley P. Sutherland, SANAD Capital CEO. “From a design perspective, the hotel is envisioned to provide a seamless integration with the overall development and yet have its own identity to cater for both leisure and business guests.” According to research studies of the hospitality market in the
Sunshine Coast, conducted by SANAD Capital, hotels in the area have witnessed unprecedented growth over the past five years, achieving record high annualized occupancy levels above 70%, with solid annual average daily rate (ADR) growth of 5% CAGR over the past years reaching ADR’s in excess of $200 in 2016. The research suggests that ADR trends are expected to see a continued strong growth in the years to come.
“The strong market fundamentals of the Sunshine Coast suggest a favorable market environment to support the development of our hotel offering,” said Fredrik Jonsson, Managing Partner of MEREHA an experienced senior player in global hospitality development, asset management and strategic advisory field. “Our research shows that the comparably limited supply of hotel rooms and strong growth in visitation numbers provides for a positive trading environment for the hospitality industry on the Sunshine Coast in the years to come.”
SANAD Capital announced the ACTVE project after purchasing the 25 hectare plot on Steve Irwin way back in January 2016. Phase 1, will be built over 17 hectares and will consist of a state of the art waterpark, a great lawn for major events, an outdoor adventure tower, and a 6,000 square meter retail zone set to attract leading local and global brands along with a superb choice of restaurants. After collaborations with leading global companies such as Thinkwell Group from the United States, WhiteWater (Canada), Jones Day, EY (Ernst & Young) and others, phase one of the development was approved by the Sunshine Coast Council in February 2017.