Queensland Government approves mega $2B+ tourism proposal for The Star Gold Coast
The Queensland Government’s approval of The Star Entertainment Group’s masterplan could trigger a further $2 billion-plus investment into tourism assets at The Star Gold Coast.
The mega masterplan would see The Star Gold Coast boast more tourism accommodation than any other resort in Australia. At around 3000 hotel rooms and apartments, it would also exceed what the world-renowned Marina Bay Sands in Singapore offers, and be on a scale similar to the largest integrated resorts in Las Vegas.
The Star has also committed to delivering the investments with no extra poker machines.
Matt Bekier, Managing Director and CEO of The Star Entertainment Group, said: “This would be a project of incredible scale, delivering substantial economic benefit to the State from jobs and increased tourism visitation.”
The iconic Broadbeach property has already undertaken recent significant transformation with: completion of The Darling hotel; full refurbishment of the 596-room The Star Grand hotel; 11 new food and beverage outlets including signature and award-winning restaurants; and works underway on the Dorsett hotel and apartments tower, due for completion in 2022.
The newly-approved masterplan – proposed by The Star and its Hong Kong-based partners, Chow Tai Fook and Far East Consortium – allows for: more accommodation (hotels and apartments) across a further four towers; exciting new restaurant and bar precincts; increased entertainment and retail options; and lush new resort facilities.
The proposal to significantly expand an already transformed The Star Gold Coast, together with construction underway at Queen’s Wharf Brisbane, would give The Star and its partners two iconic properties to drive networked tourism outcomes for South East Queensland.
The Star Gold Coast
Transformation of a Gold Coast icon
From its 1970s caravan park origins, the tourism status of Broadbeach Island has gone from strength to strength since the 1985 opening of the iconic Jupiters Casino. However, the most significant evolutionary phase for the property, as it emerges as a truly world-class tourism destination with global appeal, is now.
Recent redevelopment of the property into The Star Gold Coast is part of an existing $850 million transformation, separate to the $2 billion-plus approved masterplan. Guests are enjoying refreshed five-star hotel rooms at The Star Grand hotel, and 11 new dining and bar experiences.
In March 2018, The Star opened the glamorous, all-suite luxury hotel tower, The Darling. In October 2018 works began on a new tower that will introduce Australia’s first Dorsett hotel to the site. The tower will also include apartment accommodation, taking the overall supply at our Broadbeach site to almost 1400 rooms.
Exciting new restaurant and bar concepts are also planned, together with a recreation deck with ocean views and a resort pool for hotel guests.
The Star is playing a key role in the changing face of the Gold Coast.
The Star Entertainment Group and its Hong Kong-based partners are great believers in the future of the Gold Coast and the significant tourism appeal of South East Queensland, both to domestic and international tourism. The masterplan approval provides a platform for further investment to grow The Star Gold Coast and capture the considerable tourism opportunity at hand.
Our Broadbeach property has been a tourism icon on the coast for the past 33 years. Local spirit and the local community are at the heart of our activities.
Throughout May and June 2016, The Star Entertainment Group undertook a community information program to share ideas about our proposed masterplan concept and to obtain feedback.
Weekend information sessions, a website questionnaire and a hard-copy survey were used, together with extensive media advertising and two local-distribution newsletters. The feedback was overwhelmingly supportive of the proposed master plan and revealed strong community interest and excitement in our plans for new dining and bar concepts, and more entertainment.
The Star Entertainment Group is committed to keeping the community informed of future development. We are also proud of our longstanding support of community initiatives and organisations that have been making a real difference – including Surf Life Saving Queensland, Cancer Council Queensland, Broadbeach Alliance, Gold Coast Hospital Foundation, Currumbin Wildlife Hospital Foundation, and Ronald McDonald House SEQ.
Current Hotel Offerings
Investment in SEQ
Unprecedented tourism network
The approved masterplan concept for The Star Gold Coast provides a once-in-a-lifetime opportunity for tourism in South East Queensland.
If delivered in full, the masterplan will increase the value of tourism investments across Queen’s Wharf Brisbane, The Star Gold Coast and the Sheraton Grand Mirage to around $9 billion.
The ongoing transformation undertaken by The Star and its partners on the Gold Coast alone will create more than $4.3 billion in tourism assets – that number including the replacement value of the original Broadbeach property and the Sheraton Grand Mirage.
The approved masterplan at the Gold Coast also enables The Star and its partners to create, with a second world-class global tourism destination, a complementary property to the integrated resort already under construction at Queen’s Wharf Brisbane.
Both properties will be showcased to attract visitors to uniquely Queensland experiences – one in an urban environment, the other in a more laidback coastal setting. In tandem, they can drive significant tourism outcomes for the SEQ region.
The Star is also building strong relationships with other tourism operators. The aim is to package the collective strength of the region into a consolidated super ‘must-see’ destination. It will encourage visitors to stay longer and spend more.
Further, The Star looks forward to working with tourism bodies on ways to help disperse tourists to other Queensland destinations, creating even further upside for regional areas and the State economy.
This approach is based on research commissioned by Tourism Events Queensland and released in October 2018. The research outlined how promoting SEQ tourism experiences in a collaborative rather than competitive manner could enable up to $20 billion in latent international visitation expenditure by 2030.
Joint venture partners
Chow Tai Fook Enterprises is the flagship investment holding company for the Cheng family in Hong Kong. It is one of Asia’s largest diversified conglomerate with interests in real estate, consumer and hospitality sectors globally and a proven track record in long-term tourism and infrastructure investments.
Chow Tai Fook Enterprises has significant financial capacity to support large scale international development and highly complementary VIP relationships in Greater China and Asia.
Far East Consortium (FEC) is an international property developer who commenced operations in Australia in the mid 1990’s. FEC have been the driving force developing some of Melbourne’s most renowned residential apartment projects including, Upper West Side, The Fifth, West Side Place (250 Spencer St), Northbank Place, Flinders Wharf, Royal Domain and Regency Tower and has been responsible for over $2billion worth of projects to date in Australia. It has strong property and hotel development track record and an experienced on the ground Australian development team.
A sustainable tourism and business opportunity underpins The Star Entertainment Group’s transformational projects at The Star Gold Coast and Queen’s Wharf in Brisbane.
These developments will lead to significant growth in intra-state, interstate and international visitation, and help drive the global appeal and aspiration of each location.
Data from Tourism Research Australia and the Australian Bureau of Statistics continues to support the assertion that strong growth in the tourism sector will continue, embedding it as a significant long-term driver of the Australian economy.
The Star’s projects, together with its partners, will also create thousands of jobs for Queensland and Queenslanders, both in construction and once the developments are operational.
Growth in inbound tourism has been driven by Asia, particularly China where the more affluent middle-class, already at significant scale, continues to expand. China remains the largest and fastest growing market for international visitation to Australia.
The Star Entertainment Group is developing world-class global tourism destinations, at an unprecedented scale in South East Queensland, to leverage this tourism opportunity.
Resorts of critical mass, offering a diversity of offerings from hotel and residential accommodation, to an array of restaurants and bars, while also providing conference and event facilities, retail, entertainment and cultural activities, and other attractions, will create tourism hubs of considerable appeal for locals and visitors alike.
The Star Entertainment Group’s Hong Kong-based partners, Chow Tai Fook and Far East Consortium, are integral to the projects and driving international awareness and appeal for the Queen’s Wharf Brisbane and The Star Gold Coast transformation projects.