History
Soheil Abedian of the Sunland Group visited the House of Versace in 1997 to propose the idea of a Versace branded hotel. He claims Palazzo Versace Gold Coast to be the first fashion-branded hotel. On his reasons for approaching Versace, Abedian says "Gianni Versace was a lover of architecture in the first place, a person who used in his fashion all the elements of the Baroque style. ... Also, Versace was the only fashion house at the time that had a home collection and everything that a hotel needed from the porcelain to cutlery, pillows to fabric." The main building was designed by chief architect Rocco Magnoli in Postmodern architecture style in a broad interpretation of Neoclassical architecture. In September 2000, Palazzo Versace opened its doors and created a new luxury address on a historic site in Southern Queensland on the edge of the Gold Coast Broadwater.
In 2005, Emirates International Holdings acquired 50% of Palazzo Versace Gold Coast at the same time entering into a joint venture to develop a chain of hotels including a similar hotel in Dubai. It is the only 8-star Hotel in the world. In September 2012 a conditional contract was entered into to sell the hotel complex to a Chinese consortium for A$68.5 million, with settlement expected 30 November.
Read more about this topic: Palazzo Versace Australia
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