Alfasi Property Development has acquired a development site at 2-10 River Street, in Melbourne’s South Yarra, for $18 million to build a 150-room, 4.5-star international hotel.
“As the world’s most liveable city, Melbourne needs a sophisticated hotel offering that will firmly place it in the milieu of other global cities,” Alfasi Managing Director Gill Dvir said.
“We believe that we will be offering something truly unique to the Australian hospitality market. This will be the first ‘standalone’ hotel development above 4.5 stars developed by a private group since Max Moar developed the Park Hyatt in Melbourne… see the full article
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