Sydney’s Crossroads hotel is to open its doors to the public this week, a major boost for the struggling property.
Crossroads Group has announced a $5.5 billion investment to open the hotel, which will be the world’s largest, according to the Sydney Morning Herald.
Crossways is a global hospitality company based in Australia.
Crosslands will operate the hotel and has announced it is committed to investing $7 billion to help build Sydney’s future.
Crossings president Andrew Miller said the new Crossroads would be Sydney’s largest hotel and provide “the perfect venue for our city’s vibrant culture and the world-class dining, entertainment and community experience” that is Sydney.
Mr Miller said Crossroads was investing in the hotel because it “wants to be the centre of our city” and wanted to “make it the destination it is today”.
“We’re investing in what we believe will be a truly global destination for our guests, and that’s something that we’re excited about,” he said.
Mr Cooper said the Crossroads had invested $5bn to help it become a success.
“We believe we’ve got the right mix of luxury, quality and connectivity to bring Sydney back to the forefront,” he told the Herald.
“A key part of that is our unique, unique, distinctive location and our location at Crossroads Centre, which is a world-leading destination for global, high-end entertainment and cultural events.”
Mr Miller and Mr Cooper were on the board of the Crosswoods group that owns the Crosswaters shopping mall in Sydney’s CBD.
Crosswoods also owns the Brisbane Cricket Ground and the Sydney Opera House.
Sydney’s mayor, Mark McGowan, said the decision to open Crossroads meant the city was “starting from scratch”.
“The city of Sydney is not going to be a Sydney without Crossroads,” he tweeted.
“Crossroads is the city of tomorrow.”