$100m Westin resort for Margaret River region
Prominent Western Australian developer Luke Saraceni is leading a $100 million initiative to build a Westin resort at Gnarabup Beach in the iconic Margaret River Region.
WA Premier Mark McGowan and Tourism Minister Paul Papalia today announced Saracen Properties, Security Capital Australia and architecture firm Christou Design Group would partner with Westin brand owner Marriott International to deliver the resort, which is slated to open in 2023.
CBRE Hotels and law firm King & Wood Mallesons acted as joint exclusive advisors to negotiate the hotel management deal with Marriott.
The hotel will comprise 120 rooms, including 45 luxury suites, three food and beverage outlets, and will be predominantly a low-rise structure designed to complement its surroundings.
It will also include 400 square metres of events and conference space.
Mr Saraceni said an expression of interest campaign had been popular with international hoteliers, with nine of the world’s top hotel chains applying to be involved.
“We want to promote the great assets the Margaret River region has to offer,” Mr Saraceni said.
“This will be a hotel of international standard and it will be well-recognised throughout the world.
“And I hope that when we’re finished and The Westin is finished with it that we are not the only ones that will be proud of it, but the citizens of Western Australia will be proud of it and the Margaret River region and the wonderful assets it has to offer.”
Mr Saraceni said he would now focus his attention on negotiations with construction partners, to tailor the hotel’s design to Westin specifications.
CBRE WA head of capital markets Aaron Desange said the announcement was particularly welcome in the current economic climate, with the property expected to become a major drawcard for the South West region.
“This announcement will increase the region’s luxury tourism appeal, which will help contribute to injecting much-needed revenue back into our state after particularly challenging economic times,” Mr Desange said.
Westin Margaret River Resort and Spa is expected to create around 300 jobs in its construction phase, with more than 100 permanent roles to be available on completion.
Mr McGowan said the project was an indication that WA developers such as Mr Saraceni were increasingly optimistic the economic impacts of the coronavirus crisis would be short-lived.
“Having a first five-star resort in Margaret River will attract more visitors to the South-West and will boost the local economy,” Mr McGowan said.
"While COVID-19 has had serious impacts on tourism right around the world and here in WA, this project demonstrates long-term confidence in Margaret River and Western Australia as world-class destinations.
"My government has presided over record growth in visitor numbers and spend in recent years, and we are delighted Marriott International and the WA companies involved are committed to Western Australia."
Correction: A previous version of this article stated Built was in negotiations to be Saracen Property's construction partner. This was incorrect and Australian Property Investor Magazine apologises for the error.