Phoenix seized a co-investment opportunity to acquire and rebrand
the Primus Hotel to a Kimpton Margot Hotel in the Sydney CBD.
The Hotel is a 172-room, 5-star offering located on Pitt Street in
Sydney’s CBD that was rebuilt in 2015 within the confines of a
heritage-listed building.
Implementation of repositioning and value-add strategy were
carried out to incorporate the rebranding to a “Kimpton” brand
under the IHG banner. As part of this strategy, Phoenix undertakes
a refurbishment of the Ground Floor Lobby, Restaurant and Rooftop
areas together with a medium-term plan to increase the room count
by a further 13 rooms by converting some of the mezzanine level
meeting rooms. Besides, the hotel has appointed the renowned
Australian celebrity chef, Luke Mangan. There exists significant
scope to drive the Food and Beverage offering of the hotel in
order to maximize hotel capital value.
Refurbishment of the building has completed and reopen in 2022.