Perth Hyatt Regency shuts doors as owners plan for rebranding
The Hyatt Regency in Perth will close after 35 years at the behest of its Singapore owners, marking an end of an era in the city’s hotel industry.
Diversified Singaporean conglomerate Tuan Sing Holdings will close the high-profile The Hyatt Regency Perth Hotel after more than 35 years operation.
The move shocked the Australian Hotels Association (WA) chief executive Bradley Woods who said the announcement comes at a time when Perth hotels experienced their highest occupancy rates of 77.3 per cent in May, the strongest of all of Australia’s capital cities.
“Perth was also 11 per cent higher for the same period in 2023, with an occupancy rate of 69.4 per cent,” Mr Woods said.
The hotel, fronting 99 Adelaide Terrace, recently hosted Chinese Premier Li Quiang as well as high profile American stars such as Britney Spears, Kim Kardashian, and Justin Bieber. It will close on August 31. The English and Sri Lankan Cricket teams have also been accommodated in the 366-room, five star hotel.
Mr Woods said the decision by Tuan Sing Holdings Ltd, the owning company of the Hyatt Regency Perth, marked the end of an era and a significant milestone in the evolution of Perth’s hotel industry.
“The complex where the Hyatt Regency Perth is located has been undergoing redevelopment for some time and we look forward to seeing the next exciting chapter for the complex,” he said.
Mr Woods said the Hyatt Regency Perth was one of the first major global hotel brands to operate in Perth, commencing in 1988, and has made a valuable contribution to the social fabric of the city and the community for many decades.
“The hotel has hosted Australian and world leaders, rockstars and corporate titans, as well as being the setting for innumerable wedding proposals, celebratory receptions and birthday parties,” he said.
Tuan Sing Holdings said both parties had mutually agreed to end the hotel management agreement.
“The property will be re-positioned and rebranded following the termination of the hotel management agreement,” Tuan Sing said in a statement.
“This announcement from Tuan Sing Holdings is part of the group’s long-term strategy to expand its hospitality business across the Asia-Pacific region.”
Tuan Sing currently maintains several hospitality assets including the Grand Hyatt Melbourne and the recently acquired Fraser Residences River Promenade in Singapore, a newly completed mixed-use property in a prime location that features serviced apartment units and hospitality offerings.
“The hospitality portfolio of Tuan Sing will be further expanded upon the completion of the Opus Bay project in Batam, Indonesia, an integrated township currently under development that includes hospitality components,” the statement said.
More Coverage
Originally published as Perth Hyatt Regency shuts doors as owners plan for rebranding
Why Regal’s Phil King is taking on the widowmaker trade
Is the hedge fund boss being brave or foolhardy by going where many have gone before and fortunes have been lost.
Prospero clients to get their cash back
Clients of shuttered foreign exchange trader Prospero Markets, whose managers were involved in a huge money laundering sting last year, look likely to get their money back.