Three new hotels in Australia to offer auto insurance coverage
Three new hotel-condo developments in Australia are being launched this year.
FourFour Two has learned that three of them are opening their doors to auto insurance and are being hailed as a significant step towards providing the affordable, high-quality car insurance coverage Australians deserve.
The new hotel developments are located in the Melbourne suburb of Wollongong and will be the first of the new developments to provide auto insurance cover.
Four Four Two has spoken to the owners of each of the three hotels who confirmed that they will be offering the coverage.
“Our clients have been really keen to get the coverage, they’re very happy and we’re excited to be opening these properties,” said John Sibby, managing director of the property management company FourFour2.
“They’re looking forward to getting the coverage and we think it’s a really great fit for them.”
The owners of the properties said that they are currently in discussions with the property manager to start providing coverage.
The hotels will offer the new auto insurance policy in four basic tiers, with the highest tier covering up to a minimum of $150,000 per policy.
“We’ve had a lot of inquiries, people are very keen to see what the new coverage is and what the coverage is available in relation to their car insurance, and they’re quite excited about it,” Mr Sibbys said.
The three new hotels will be located at the former site of the former Four Four One Hotel.
The Four Four Hotel, which was established in the 1970s, is the property that has served as a tourist attraction since its opening in 2012.
The former FourFour One Hotel opened in the early 1980s and the property was known as the ‘Grand Hotel’ before it was demolished in 2009.
FourFiveOne, which owns the property, said that the new hotels have a “very good profile” with their “unique and innovative design and amenities”.
“We have had a number of clients who have come in and said they would love the coverage that the Four Four hotel has, but at the same time we’re also looking at what we can offer our customers to keep them entertained,” Mr Bremner said.
Four Five One has been offering auto insurance policies to its clients since 2013.
FourThree, which is the parent company of FourFour, has had three hotel developments in its portfolio for some time.
Four Three was set up in 2000 by two men from Sydney who were looking to create a boutique hotel.
The properties at Wollondilly and Waverley were initially set aside as an office park before being opened in 2011 as the flagship hotel.
Four Two and FourFour have also been in discussions for a number years with a number local hoteliers, including former FourFive One owner David Lepp.
Mr Lepp said that his company is happy to offer a “fairly decent” coverage, but said that there is a range of different levels available for a different level of coverage.
“[The] minimum coverage for the current level of a property is around $150K and that will increase depending on your car insurance,” he said.
“So the level of your insurance is very different depending on how you’ve got your car insured.”
The current level is $150k, with other levels available to be purchased.
Mr Sobbs said that it was important to remember that this coverage is offered by the hotel and not the property itself.
“I think that’s a great point, because it’s not like the property is going to be sold for a few years and we have to sell it off,” he explained.
“But if the property has to be destroyed, that’s what it will be replaced with.”
FourFour and FourFive have been discussing the expansion of the existing properties for some years and have had conversations with the former owners.
Mr Breskin said that four of the hotels are currently empty, but that they have been working on getting more guests.
“It’s good to have more hotels open because we want to be able to attract more customers, particularly in these hot weather years, so that’s why we’ve been building these properties and this is the kind of hotel that we’re looking to do with,” he added.
FourSeven One, which also owns the FourFour property, has plans to open three more hotel developments over the next three years.
“That’s another great development that’s coming up, that will be a three-storey hotel that will open up on Wollangong,” Mr Leppo said.