The Sydney Hotelier property was sold, restructured, and resold.
The new owners promised to bring back the glory days of Merewether Beach with an all-out luxury resort.
They even promised to give local hoteliers a fighting chance again.
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But will they be able to deliver?
With investors changing every few months, it is almost impossible to reliably track their progress or gauge whether they are delivering on their promises.
But in many ways, the changes at Merewether Beach Resort have been positive for local hoteliers and customers alike.
They have added a new revenue stream, refreshed the property’s image, and introduced a new level of luxury for guests.
First, let us take a look at how this one hotel has been transformed under Andrew Lazarus Group’s ownership
The idea of a luxury hotel company led by a well-known hotelier is nothing new in the hotel industry.
Some of the oldest and most well-established hotels globally have family ties to their current owners and investors.
However, in recent years, the growing popularity of Tiger Brands, led by managing director Martin Weil, has led to several high-profile hotel acquisitions.
The Sydney Hotel Industry in Turmoil
The Australian hotel industry has long relied on guest volume and volume growth.
Hotels have quietly merged or closed down to focus on just one thing – serving guests.
However, the industry has faced difficult times in recent months due to low demand caused by the uncertainty surrounding the Trump Administration.
The industry has been through tough times before, most notably in 2001, when the 9/11 attacks sparked a wave of security concerns across the globe.
In the weeks and months that followed, many hotels in New York and worldwide were forced to close their doors.