Event Hospitality & Entertainment Limited (EVENT) today announced it has entered into a management agreement with Iris Capital for a QT Hotel in Newcastle.  One of four new hotels being developed for the QT brand across Australia and New Zealand, QT Newcastle will be a creative place to stay and play and a hallmark destination for the NSW Government's Revitalising Newcastle program.                                                                 

Property Owners Iris Capital will partner with EVENT to convert the former historic David Jones building, retaining the landmark building's heritage features, fused with the much-loved contemporary charm QT is renowned for.  Similar to the transformation of Sydney's iconic department store Gowings to create QT Sydney, the former David Jones site is opportune for the design-led QT experience.

As the largest regional hub in Australia, and the seventh largest city, Newcastle provides all of the benefits of a culture-rich city with the attraction of a regional, beachside town.  QT Newcastle will sit amongst the new urban village perfectly located in the heart of Newcastle's Hunter Street Mall on the corner of Perkins Street. The hotel will reflect QT's popular luxurious and quirky flair, featuring 106 character-filled rooms, a boutique rooftop bar, and an intimate QT signature dining concept and bar.  QT Newcastle will be located within a short walking distance to Newcastle's stunning Harbour and renowned surf beaches.

Event Hospitality and Entertainment CEO Jane Hastings said: “Over the past 12 months we have secured four new QT locations, each unique to ensure we create the QT point of difference.  Newcastle is Australia's largest regional centre and with the $700m Iris investment, combined with the $650m NSW government investment, the city is being revitalised and QT will be at the heart of this precinct.”

“QT Newcastle will be a result of transforming the heritage David Jones building into a 106 room hotel with a boutique roof top bar and signature dining experience, all true to QT style.”

Colliers International was responsible for securing the management agreement for Newcastle's newest, iconic boutique hotel.

“This will be one of the most unique offerings that Newcastle has seen and is unlike anything available in the city so far,” said Christopher Milou, Director of Hotel Valuations at Colliers International.

“Currently, there is no true luxury boutique hotel operating in the Newcastle market that captures the essence of area, its history and its growing cosmopolitan feel and we believe that the characteristics of the heritage building and QT's experience will fill this void.”

Iris Capital CEO Sam Arnaout said the opportunity speaks for itself.

“No other operator is better suited to the space,” Mr Arnaout said.  “We wanted to find an operator that respected the history of the East End and QT has a fantastic track record of transforming heritage buildings respectfully.  QT will deliver a result that benefits the heritage precinct, our stakeholders and the community.”

Mr Arnaout said there had been a lot of interest in the site, but Iris had worked hard and taken time to secure a partnership with the most suitable operator.

“There is no doubt anyone who has stayed with QT knows they are perfectly matched to the Newcastle market,” Mr Arnaout said.

“Their boutique hotels are edgy and sophisticated and they are experts in hospitality.  They work hard to be different from other operators and we wanted a point of difference for the East End.”

The QT group of hotels is on a strong growth trajectory, with the opening of QT Queenstown in December 2017 and QT Perth in July 2018.  QT Newcastle and QT Auckland are scheduled to open in 2020, followed by QT Parramatta and QT Adelaide in 2021.

QT Hotels recently celebrated a triple-win in the annual Condé Nast Traveler Readers' Choice Awards, with three QT properties ranking in the top 15 hotels in Australia and New Zealand.

Further details regarding QT Newcastle will be announced soon.

-ENDS-

About QT Hotels & Resorts

QT Hotels & Resorts is one of Australia and New Zealand's most loved and dynamic hotel brands, the family of properties includes: QT Sydney, QT Melbourne, QT Gold Coast, QT Perth, QT Falls Creek, QT Canberra, QT Bondi, QT Wellington and QT Queenstown, with QT Auckland and QT Newcastle scheduled to open in 2020, followed by QT Parramatta and QT Adelaide in 2021.

www.qthotelsandresorts.com.au

About EVENT Hospitality & Entertainment:

Event Hospitality & Entertainment Limited (EVENT) is a leading entertainment, hospitality and leisure company.  Founded in 1910 and headquartered in Sydney, EVENT is at the forefront of the experience economy and delivers over 40 million customer experiences annually.  From movies and adventure to travel and dining, EVENT believes that in an increasingly busy world, an outstanding experience can create lasting memories.  

EVENT own the largest cinema circuits in Australia, New Zealand and Germany under the brands EVENT Cinemas, Birch Carroll and Coyle, Rialto, Cinestar, Greater Union and Moonlight Cinema.  EVENT also own and operate more than 60 hotels including Rydges Hotels and Resorts, QT Hotels and Resorts, Atura Hotels and independent hotels.  In the leisure space, EVENT operate Australia's much-loved ski resort, Thredbo Alpine Resort and one of Australia's oldest theatres, the State Theatre.  The company also owns a substantial property portfolio.

With over 9,000 employees, the group shares a passion for creating truly exceptional customer experiences, world class hospitality and continuous innovation.  EVENT is committed to protecting and giving back to the communities in which it exists through a focus on sustainability, fundraising and diversity.  

EVENT listed on the Australian Securities Exchange (ASX) in 1962 and trades under the ASX code of EVT.  It has a market capitalization of $2.15billion.

About Iris Capital

Iris Capital (Iris) started in 1995 with a vision to develop a substantial portfolio of assets in the hospitality industry. The company is headed up by CEO Sam Arnaout and supported by his team of property and hospitality experts. 

By 2006 Iris acquired 13 hotels through a simple, guiding strategy of creating profitable growth. Over the last decade Iris has evolved beyond hospitality into realising the full potential of each property asset. Iris has optimised its locations, with high quality, integrated residential and mixed-use developments, in sought-after locations such as the Sydney CBD, Kings Cross, Bondi Junction, Hunters Hull, Clovelly and right across the Sydney region.