Echo Unveils Proposal For World's First Connected, Integrated Resort At The Star
SYDNEY, June 22, 2013 /PRNewswire/ --
- Two new international hotels with more than 500 new rooms:
- A six star luxury hotel
- A five star premium hotel with prestige global operator
- This brings to 1,150 the total number of rooms at The Star
- More than 50 world-class restaurants and bars, including over 20 brand new experiences;
- A contribution of $130 million to community infrastructure including the "City Link" pedestrian/cycle bridge and an upgraded light rail station to transform transport options for 10 million Sydneysider trips a year;
- An increase of 330,000 international and interstate visitors per year, or a 1.2 per cent increase to current overall NSW international and interstate visitor arrivals, increasing the total number of estimated annual visits to The Star by international and interstate guests to over 2,000,000 by 2025;
- An estimated incremental tax contribution of around $1 billion to the Government across the proposed extended exclusivity period;
- Employment of over 5,750 Sydneysiders – including more than 1,460 new permanent jobs for Sydney;
- Forecast incremental contribution to the NSW Gross State Product of $350 million per annum;
- Payments for extended licence exclusivity totalling $250 million to the NSW Government (which could give the NSW Government the option of underwriting a six star hotel at Barangaroo with these funds); and,
- A total investment spend of more than $1.1 billion, 93% in non-gaming, tourism related infrastructure.
Echo Entertainment Group Chairman John O'Neill and CEO John Redmond said today that Echo's expansion plans for The Star would see the world's first "Connected Integrated Resort" built in Sydney.
To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/62180-echo-unveils-proposal-connected-integrated-resort-at-the-star(Photo: http://photos.prnewswire.com/prnh/20130622/MM34718) Mr O'Neill and Mr Redmond today unveiled details of Echo's Detailed Proposal which was formally submitted to the NSW Government through its unsolicited proposal process on Friday afternoon.
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