Hyatt signs agreement with PEC Portfolio for new hotel in Australia

Global hospitality firm Hyatt Hotels’ affiliate has signed a management agreement with PEC Portfolio Springvale for the development of new hotel called Hyatt Place Melbourne Springvale in Australia.

Strategically located at the intersection of Springvale and Dandenong Roads near Monash employment and innovation cluster, the 200-room Hyatt Place Melbourne Springvale will be the second Hyatt Place hotel in Australia upon opening in 2020.

Hyatt Hotels Asia Pacific Group president David Udell said: “We are delighted to expand the Hyatt Place brand in Melbourne, the second largest city Australia.

“The hotel will mark the tenth Hyatt-branded hotel in Australia and it will be a great addition to Hyatt’s brand footprint in Melbourne, which includes Park Hyatt Melbourne, Grand Hyatt Melbourne, Hyatt Place Melbourne Essendon Fields, and a recently announced Hyatt Centric hotel in Melbourne.”

Hyatt Place Melbourne Springvale will be a mixed-used complex, which includes co-working facilities as well as retail stores and will be developed by Australian boutique investment management firm PE Capital.

PE Capital chairman and property head Martyn Barnes said: “With a talented workforce and a growing diversity of institutions and industries, the Monash Cluster continues to make significant contributions to the Victorian economy. We believe the new complex will offer unique business and leisure experience for both local and international guests.

“We are thrilled to collaborate with Hyatt to further cultivate the Monash Cluster into a top modern business destination and support the national economy.”