Icon Kajima, Mulpha tap Sydney’s growing lifestyle hotel demand

According to The Australian Financial Review, developers Icon Kajima and Mulpha Australia are taking advantage of weaker land values and stronger room rates to develop boutique hotels in the Sydney CBD that will attract both business and leisure travellers.
Icon Kajima’s $265 million project at 499 Kent Street – site of the heritage-listed RCA House building built in 1936 – is for a 229-key hotel across 23 storeys that already has secured a stage 1 approval and on which construction should start next year.

https://www.afr.com/property/commercial/icon-kajima-mulpha-tap-sydney-s-growing-lifestyle-hotel-demand-20230919-p5e623