Massive change coming to fashion-themed Palazzo Versace hotel on Gold Coast Queensland
An international fashion house will do away with the branding of an iconic Australian hotel, forcing the current owners to undergo a ‘refreshing’ overhaul.
The House of Versace walked away from renewing its branding deal with the Palazzo Versace Hotel on the Gold Coast, which expires in the middle of this year.
The five-star hotel that ‘brings Europe to the Gold Coast’ with its Italian design and Versace furnishings has attracted the who’s who of celebrities, including Snoop Dog, Bono, Beyonce and Jay Z.
It is one of only two Versace branded hotels in the world, the other being in Dubai.
Representatives of the luxury hotel’s Chinese owner, Dong Run Group, flew to Milan in Italy to talk about the future with the fashion giant.
But it is clear that no agreement has been reached.
“The owners have not maintained it to the standard required by the House of Versace, so they chose not to renew the license agreement,” a source close to the talks told me. Gold Coast Bulletin.
The House of Versace has not renewed its branding deal with the Palazzo Versace Hotel (pictured) on the Gold Coast, which expires in the middle of this year
Representatives of the hotel’s Chinese owner, Dong Run Group, flew to Milan in Italy to talk to Versace about the future, but no agreement was reached
Thousands of the famous Medusa tiles will have to be removed, but the most important in the foyer will remain in the hotel (pictured, a Medusa decorative metal carving in one of the hotel’s luxury rooms)
Builder Soheil Abedian earned $200 million through his company Sunland Group to build Palazzo Versace, which “brought Europe’s grand five-star hotels to the Gold Coast”
The 200-room hotel (pictured, one of the rooms) and its 72 luxury apartments were then acquired by the Dong Run Group in 2012 for $68.5 million
An investor added that the location was the best on the Gold Coast due to the three-storey maximum height in the area – meaning the hotel (pictured) would never be built
A condo owner for the hotel said they were positive about the hotel’s future, hoping the rebranding will give the “tired hotel” a second life.
Thousands of the famous ‘Medusa head’ tiles replicating Versace’s famous logo will have to be removed, but the main image of Medusa in the foyer will remain in the hotel.
The huge chandelier – whose original owner was Gianni Versace, the fashion giant’s founder – also remains.
The legendary Italian luxury label branded the five-star hotel in The Spit after hotel builder Soheil Abedian approached Versace in 1997.
Mr. Abedian’s company, Sunland Group, has spent $200 million to build the sprawling property.
Tens of millions have been spent on marble alone.
The 200-room hotel and its 72 luxury apartments were then acquired by the Dong Run Group in 2012 for $68.5 million.
“I am aware that the House of Versace has not continued their agreement and it is sad that it is coming to an end,” Abedian said Monday.
“I hope that will get much better and given the location it justifies having an international brand to manage it.”
A condo owner at the hotel said it was sad to see the Versace brand disappear, but had high hopes for the rebranding of the hotel into the main hot spot for a bright future.
“Endless possibilities await as we anticipate the rebranding of our beloved hotel which we are fortunate enough to share as part of our lifestyle experience as we wait for what comes next,” they said.
The huge chandelier (pictured) – whose original owner was Gianni Versace, the fashion giant’s founder – remains at the hotel
A condo owner at the hotel said it was sad to see the Versace brand disappear, but had high hopes for the hotel’s rebranding into the main hot spot had a bright future
Another owner said they were excited about the future of “rejuvenation and renewal” of the “timeless” hotel (pictured, the exterior of the Palazzo Versace)
Another owner said they were excited about the future of “rejuvenation and renewal” of the “timeless” hotel.
An investor added that the location was the best on the Gold Coast due to the area’s three-story maximum height, meaning the hotel would never be built.
The sale of the hotel by the Chinese owners has been discussed in recent years.
Shakespeare Property Group was interested in buying the hotel for $114 million, but talks stalled last October.
It is also understood that Hilton Worldwide was in talks to add the hotel to the Waldorf Astoria brand.
Renovations to the hotel were expected to cost $58 million.