Harry polishing his Broadbeach star

AUSTRALIA’s biggest private landlord, developer Harry Triguboff, is spending millions of dollars polishing what he terms a star in his apartment style hotel business, twin Meriton buildings at Broadbeach.

The 84-year-old multi-billionaire yesterday said that the move was intended to keep his Meriton Suites in what are known as the Pegasus towers ‘ahead of the game’.

“To be successful, you have to anticipate changing public tastes and respond accordingly if you want to stay ahead of the field.

“We’re doing that at Broadbeach, where our suites have been absolute winners for Meriton.”

Meriton Suites runs 405 full-service hotel suites in the linked Pegasus buildings, which were completed in 2008 and sit between Surf Parade and the Gold Coast Highway.

A statue of Pegasus the flying horse graces the lawns at the highway frontage of the towers, a legacy of an office building that previously occupied the site.

Mr Triguboff said the Broadbeach suites were ‘standout’ performers in a portfolio of Meriton Suites properties that included buildings in Southport, Brisbane and Sydney.

“We have more than 4400 suites and for Broadbeach to rank so highly is a testament to both the surging appeal of the Gold Coast and the standards we set at Meriton.

“Broadbeach has enormous vibrancy and it’s a place where everyone, from families to tourists and corporates, wants to stay.

“I originally was intending to sell the Pegasus apartments as strata-title units but the GFC made me change my mind.

“The move to offer one-two- and three-bedroom apartments as hotel suites has been a winner, especially with families.”

Matthew Thomas, the Meriton Suites general manager, said the revitalisation of the Pegasus towers started earlier this year with the northern tower and much of the work would be completed by the start of the Commonwealth Games in April.

The program included new-style furniture packages, including entertainment systems.

He said the work included restoring Pegasus, giving it a new golden coat, and ‘highlighting’ it with LED lighting.

Mr Thomas said Meriton was achieving nightly rates at Pegasus that ranged from $225 for a one-bedroom suite through to $595 for a three-bedder.