Accor and a joint venture of Sydney developer Central Element and property investor Boston Global are to open Sydney's first 25hours Hotel, at the end of 2022.
The building first opened in 1911 as the West's Olympia Theatre and will be converted to include 105 guestrooms and a rooftop bar.
CEBH is a joint venture partnership between Sydney-based developer Central Element and the strategic investment group Boston Global.
Wayne Chivas of CEBH said: "It has been our long-term vision to create a hotel of stature and presence in the heart of Sydney. We are delighted that in 25hours, we have found the perfect partner for this unique building. 25hours will be a hotel characterised by personality and charming, relaxed service, enriching Oxford Street and the city's culinary and bar scene.”
Bill Moss AO said, "After several years in the making, we're excited to see our vision coming to life. High quality, well designed mixed-use developments in and around major health precincts.”
Simon McGrath, CEO Accor Pacific, said, "We're delighted to be bringing 25hours to Sydney. The building itself is in an incredible location and has enormous potential, and the open areas such as the rooftop bar and the central courtyard will allow us to truly bring our new hospitality concept to life. With CEBH we have an experienced partner at our side, who will bring skill and thoughtful detail to the project.”
25hours Sydney is the second 25hours Hotel to be announced in Australia, after plans for 25hours Melbourne were revealed last year.