Rydges takes over World Square Hotel
Rydges Hotels has announced it has been victorious in the competition for management of the Avillion Hotel in Sydney’s CBD.
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The four and a half star hotel was purchased in January by the Schwartz Family Company who paid #115m for it.
The Avillion is situated in the World Square precinct and comprises 445 guest rooms and suites. It will be re-branded as Rydges World Square, Sydney.
The acquisition brings to eight the number of Rydges Hotels in the greater Sydney area.
David Seargeant, the managing director of Rydges’ parent company, Amalgamated Holdings Ltd, said re-establishing a presence in the Sydney CBD had been a priority for Rydges.
He said the hotel had direct access to the World Square retail precinct of stores, restaurants, bars and entertainment.
The purchase of the Avillion Hotel by the Schwartz family after it had been on the market since late 2005 was seen by commentators as an indicator of an improvement in the Sydney hotel market.
Rydges said it had appointed Tish Nyar, the former general manager of Rydges North Sydney and area manager for the Sydney region as the general manager of Rydges World Square.
