2014

The Ritz-Carlton Plans Return To Australia With New Agreement In Perth

HONG KONG, March 26, 2014 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. and Fast Consortium, a leading Asian residential apartment developer, have signed an agreement for the development of The Ritz-Carlton, Perth, heralding the much-anticipated return of the luxury hotel operator to Australia.

Commenting on this landmark return, Herve Humler, President and Chief Operations Officer, The Ritz-Carlton, said "We are delighted to make our return to Australia, bringing our legendary services to Perth. We have listened to our guests who have a strong desire to stay with us when the travel to this beautiful destination in Western Australia. We have great partners in Far East Consortium and look forward to opening this incredible hotel in 2018."

Working closely with the Western Australian Government and the Metropolitan Redevelopment Authority (MRA), Far East Consortium will build the 204-room Ritz-Carlton, in addition to residential apartments in the heart of the riverside Elizabeth Quay development on Perth's waterfront.

The Ritz-Carlton, Perth will be the city's first international luxury hotel in the city, bringing its unique benchmark service culture, with luxurious accommodations and experiences to Western Australia. Its commanding waterfront position features a sweeping view over the Swan River, and the nearby attractions of Kings Park and the Botanical Garden.

Located in the commercial and business district adjacent to the Perth Convention and Exhibition Centre, Elizabeth Quay is the centre-piece of Perth's drive to reinforce its position as an international and contemporary destination for the global affluent traveler. When completed, the project will also feature 1.5kms of continuous promenades to create a destination experience that will attract an estimated four million visitors a year.

Perth is the capital city of Western Australia and is recognized by the Economist Intelligence Unit as the 9th most livable city in the world. It enjoys a reputation as Australia's sunniest city and tourism arrivals are robust as the state enjoys 7 million overnight visitors a year. Perth is also close to the scenic Swan Valley, known as Western Australia's oldest wine growing region as well as the America's Cup port city of Fremantle. The regional economy also remains one of Australia's most buoyant and accounts for almost 50% of all exports.

Far East Consortium Chairman, Tan Sri David Chiu said: "Far East Consortium is privileged to have been selected as the developer of this project by the Western Australian Government which will bring the river to the city. We look forward to creating a set of landmark buildings on the Perth waterfront which will herald Perth's arrival as a world class city in Australasia."

"The Ritz-Carlton is a renowned international luxury hotel operator renowned for its service. The development of The Ritz-Carlton, Perth is a key part of the Elizabeth Quay project and will further strengthen that reputation. I expect it to quickly become an iconic part of Western Australia's tourism landscape," he added.

The ground-breaking for The Ritz-Carlton, Perth is expected during 2015. The project will also encompass ground floor retail space, waterfront fine dining experiences, and luxury 1, 2 and 3 bedroom apartments.

The Ritz-Carlton is the fastest growing global luxury hotel operator in Asia-Pacific and with the signing of Perth, will officially double its presence to 44 hotels and resorts in the region by 2018.

About The Ritz-Carlton Hotel Company, LLC

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 85 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, an award that originated in 1987. Its purpose is to promote the awareness of quality excellence, recognize quality achievements of companies and publicize successful quality strategies. The Ritz-Carlton Hotel Company won the award in 1992 and 1999. For more information, or reservations, contact a travel professional, call toll free in the U.S. 1-800-241-3333, or visit the company web site at www.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ: MAR).

About the Far East Consortium

Far East Consortium International Limited (HKSE: 35) is a $2 billion conglomerate that has been publicly listed on the main board of the Hong Kong Stock Exchange since 1972.

Far East Consortium (FEC) which was founded by the Chiu family is headed in Australia by Executive Director Craig Williams. Over the past 20 years,  FEC has been the driving force behind some of Melbourne's most renowned residential apartment developments including, Upper West Side, Northbank Place, Flinders Wharf, Royal Domain and Regency Tower and has been responsible for approx. $2 billion worth of projects to date in Australia.

SOURCE The Ritz-Carlton Hotel Company, L.L.C.



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