Pro-invest will spend $20m turning the Holiday Inn on Flinders Lane into a Hotel Indigo and has similar conversion plans for the Larmont Hotel in Sydney.
Built in 1990 on the corner of Flinders Lane and Spencer Street, the nine-storey Holiday Inn hotel temporarily closed in December 2020 and was later used for quarantine accommodation during the pandemic, before closing permanently.Once revamped at a cost of $20 million, the Holiday Inn will be reborn as the Hotel Indigo Melbourne on Flinders in mid-2023.
Hotel Indigo is IHG’s most eclectic brand, with each hotel designed to reflect the culture and history of its surroundings through artwork, locally inspired menus and the overall look and feel.The upgrade program for the Flinders Lane hotel includes adding seven more guestrooms to take the total to 216 and putting in a Spanish-themed tapas restaurant and bar called Beso.“Putting a lifestyle brand on that asset will be fantastic.
Alongside bringing the Hotel Indigo to Melbourne, Pro-invest will introduce the Indigo brand to Sydney when it revamps the 103-room Larmont Hotel at Potts Point, to add to itsMr Smits said Pro-invest’s performance across Australia and NZ had been incredibly strong last year and into 2023. “Our average daily rates are up about 20 per cent on pre-COVID numbers and our occupancy is strong,” he said.
writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom.
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