The former Ritz Carlton Double Bay will undergo a multi-million dollar refurbishment as it was confirmed it will reopen in January under the InterContinental moniker.
Singaporean-based Royal Hotels and InterContinental Hotels Group (IHG) have signed a management agreement for the 140-room property which initially opened in 1991 under its original name before becoming the Stamford in 2001.
It was closed in 2009 with redevelopment in mind and was acquired by Royal earlier this month for a sum in the order of $58 million.
Its redevelopment will be led by Australian architect firm, Bates Smart, with facilities to include a ballroom for up to 300 guests, meeting space, an all-day restaurant, Club InterContinental, cafe, lounge and bar, rooftop pool, bar and underground parking.
A ground floor arcade will also be created beneath the hotel to include a health club or day spa along with retail outlets.
Director of Royal Hotels, Bobby Hiranandani, attributed the selection of IHG as a partner for the project to the strength of its brand, locally and internationally, and its "proven ability" to deliver returns on its assets.
"Our plan is to rejuvenate this ideally-situated hotel and its surrounds, making it the destination for Eastern-suburbs locals and Australian and international visitors alike," he said.
"InterContinental Sydney Double Bay will become an ideal destination for weddings, conferences and dining as well as luxury accommodation."
Meanwhile, IHG Asia, Middle East and Africa chief executive Jan Smits described it as a "significant development" for the firm in Australia.
"The site at 33 Cross Street has long awaited the arrival of a new luxury hotel for Sydneysiders and visitors, and we feel confident that in partnership with Royal Hotels, we will create something very special for our guests," he said.
It will be the fifth InterContinental hotel in Australia.
Pictured from left: Tony Ryan, Principal Ryan Lawyers; Bobby Hiranandani, Director Royal Hotels; Jan Smits, IHG Asia, Middle East and Africa Chief Executive Officer; Alan Watts, IHG Japan and Australasia Chief Operating Officer and Asia, Middle East and Africa Operations Performance.
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