IHG Hotels & Resorts (IHG) has signed a landmark Master Development Agreement with Australian property developer Aland to launch Staybridge Suites, IHG’s globally established upscale extended-stay brand, in Australia and build a significant national portfolio.
Under the agreement, Aland will have exclusive development rights for Staybridge Suites in Australia, with a portfolio of at least 15 hotels comprising a minimum of 2,000 rooms to be developed across the country.
The agreement represents a substantial expansion of the partnership between both organisations, and establishes a long-term development pathway for the brand in Australia.
Alongside the Master Development Agreement, IHG and Aland have signed the first two franchise agreements for Staybridge Suites in Australia: the 130-room Staybridge Suites Sydney Parramatta and 112-room Staybridge Suites Sydney Leppington, both located in Greater Western Sydney. To be managed by Signature Hotel Management Group, the two hotels will form the first phase of the national portfolio.
The extended-stay segment continues to offer significant growth potential in Australia, supported by demand from corporate travellers, project-based work, relocations and guests seeking greater flexibility for longer stays.
Matt Tripolone, managing director, Australasia & Pacific, IHG Hotels & Resorts, said: “This is a significant long-term development agreement for IHG in Australia. Establishing a portfolio of at least 15 hotels and 2,000 rooms with one development partner gives us a clear pathway to build a meaningful position in the extended-stay segment, where we see considerable long-term opportunity.
“Importantly, this is not simply an agreement about future growth. We are announcing the first two Staybridge Suites hotels in Parramatta and Leppington from the outset, giving the portfolio immediate momentum in two important Western Sydney growth markets.
“Aland has substantial development capability and ambition, and we share a clear vision for the opportunity ahead. Bringing that alignment together with IHG’s brands, distribution and enterprise gives us a strong foundation to grow the partnership over the long term.”
