The Sheraton Mirage at Main Beach on the Gold Coast announced today a $500 million dollar refurbishment to commence in July 2011. The Indian based Company that bought the beach front hotel, Pearls Australasia, is about to undertake a three year project to refurbish the Sheraton's 296 rooms and common areas. The overhaul will include new furnishings in all rooms, updated interior design and color schemes, together with new artwork.
Pearls Global paid $62.5 million for the Sheraton early last year, when it purchased the site from the Raptis Group. Pearls founder and chairman Nirmal Singh Bhanghoo last night promised to "restore the property to its former glory". "When we settled our purchase last year, we committed to reinstating the Sheraton to its rightful place as one of the world's great beachfront resorts," Mr Bhanghoo said.
"This very first step in our plans for a dramatic overhaul demonstrates our bona fides. "Bringing the Sheraton fully back to life is our dearest ambition. These initial works will make a world of difference to its aesthetic, as will further stages over coming years."
The Sheraton Mirage was originally developed by Christopher Skase in 1987, was initially a sought-after destination for the rich and famous. The Gold Coast will see many major Hotels redevelop their interests in the years to come, as competition heats up. Later this year Hilton will open its Surfers Paradise 5 Star Hotel, whilst Conrad is planning a half a billion dollar development at Jupiter's Casino in Broadbeach. Many of these Hotels will want to prepare for the Gold Coast Commonwealth Games in 2018, should the State Government's bid be successful.
For all your Gold Coast Real Estate needs call the team at Geoff Brand Real Estate on (07) 5543 5558.
Pearls Global paid $62.5 million for the Sheraton early last year, when it purchased the site from the Raptis Group. Pearls founder and chairman Nirmal Singh Bhanghoo last night promised to "restore the property to its former glory". "When we settled our purchase last year, we committed to reinstating the Sheraton to its rightful place as one of the world's great beachfront resorts," Mr Bhanghoo said.
"This very first step in our plans for a dramatic overhaul demonstrates our bona fides. "Bringing the Sheraton fully back to life is our dearest ambition. These initial works will make a world of difference to its aesthetic, as will further stages over coming years."
The Sheraton Mirage was originally developed by Christopher Skase in 1987, was initially a sought-after destination for the rich and famous. The Gold Coast will see many major Hotels redevelop their interests in the years to come, as competition heats up. Later this year Hilton will open its Surfers Paradise 5 Star Hotel, whilst Conrad is planning a half a billion dollar development at Jupiter's Casino in Broadbeach. Many of these Hotels will want to prepare for the Gold Coast Commonwealth Games in 2018, should the State Government's bid be successful.
For all your Gold Coast Real Estate needs call the team at Geoff Brand Real Estate on (07) 5543 5558.
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