SYDNEY – The Formule 1 Kings Cross is the first hotel to be opened since the 2000 Olympics, reversing a trend that has seen ten hotels closed since the Games.
The hotel’s opening coincides with Sydney’s tourism recovery after its stagnation for a couple of years due to SARS, Iraq and Ansett’s demise.
Accor’s general manager of Economy Hotels, Roger Batty, said the opening of the hotel reflected the optimistic tone towards tourism in Sydney currently.
“The industry has done it tough during that period, with a constant stream of crises affecting travel to Australia. However, all indications are that a recovery is underway and this new hotel will provide much needed quality accommodation for budget travellers,” he said.
The 115-room hotel opened May 17 and will meet the rising demand for budget accommodation in East Sydney and King’s Cross. It’s expected to attract business travellers, groups, families and backpackers.