JAMES Packer's Publishing and Broadcasting (PBL) plans to build the biggest hotel in Australia at its Crown Entertainment Complex in Melbourne.
It is estimated the hotel will cost $300 million to build.
"The proposed new hotel will be the third in the Crown Entertainment Complex along with the award winning, luxurious Crown Towers and Crown Promenade Hotel," PBL subsidiary Crown Melbourne said today.
Crown Melbourne owns and operates the Crown Entertainment Complex in Melbourne.
PBL said the proposed hotel, which was still to be named, would have 658 rooms, taking the total number of hotel rooms at Crown to 1,600.
The property will target the international leisure market, also focusing heavily on the global convention and conference market.
Crown Melbourne chief executive David Courtney said the proposed hotel demonstrated Crown's confidence in the future of Melbourne as one of the world's leading tourist destinations.
The hotel will face Clarendon Street and will be close to the Melbourne Exhibition Centre, complementing the new Plenary Hall and Convention Centre being built by the Victorian government at Docklands.
Construction of the hotel, which is subject to planning and building approvals, is due to start this month, with the hotel opening by May 2010.
Crown also plans to undertake a $65 million upgrade of Crown Towers.
The company will also spend another $100 million in a major refurbishment of the main gaming floor.
Discussion on developments interstate and overseas.
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