The glittering opening of the new $1 billion W Hotel in Sydney’s Darling Harbour, not only bumps up the volume of luxury accommodation but also signals to operators what offerings are needed to entice guests that now want an experience holiday, not just high-thread counted sheets.
The W brand was born in New York City but always destined for this city. And, we’re very proud to call this the largest W globally in our system.“The W brand was born in New York City but always destined for this city. And, we’re very proud to call this the largest W globally in our system.” The opening comes as Sydney’s hotel market is front-running the performance of the sector nationally, boasting occupancy above 75 per cent, an average daily rate above $300 and revenue per available room above $200, according to STR and Colliers.
“While Luxury resorts are performing strongly amid the resurgence of leisure travel and desire for experiences post pandemic, we expect capital values for the broader Australian hotels market to also remain competitive compared to global peers, as international travel and revenue defends against economic fluctuations,” Wales said.