Quest Apartments’ 77-room venture is expected to start rising from the ground early next year, in what the serviced apartment chain hopes will be one of its highest-performing locations.
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General manager of growth, James Shields, said builders and sub-contractors were being finalised.
“I think we’ll be starting by the end of March,” he said.
Mr Shields said Quest was eager to make progress given Orange’s accommodation shortages and affluent status in the region.
He said regional NSW locations tended to outperform their metropolitan counterparts.
“When we were going to Dubbo, people asked us ‘how can you justify the demand in the market?’,” he said.
“But the [occupancy] rate is 87-90 per cent.”
He expected corporate clients to stay during the week, opening the door for holidaymakers on weekends.
He said corporate clients’ expectations had changed and were no longer happy with a $99-a-night room.
“When they travel for work, they wan to make sure it’s decent accommodation – serviced accommodation with a conference centre,” he said.
Rooms would average $180 a night in the first year, with one, two and three-bedroom apartments available.
It will also feature a business lounge, conference room, gym, a 65-seat cafe and a retail space.
It has been estimated the Kite Street site, formerly home to the Central Western Daily, would be open to the public by early 2019.