Holiday Inn & Suites Melbourne Ringwood — Photo by IHG
Holiday Inn & Suites Melbourne Ringwood — Photo by IHG

The announcement follows the signing of a management agreement with Ninety Four Feet, an Australasian property development, investment, and construction company, and their partners Omni Property Group and Hamilton Marino Builders.

Opening in 2020, the 164-room hotel will offer all day dining and bar, conference and meeting facilities, a gym and a swimming book, along with on-site parking. It sits as part of a mixed-use development that will feature 82 residential units.

Ringwood is a growing city on the fringe of the Eastlink motorway, just 23km east of Melbourne's CBD, with a population of more than 16,000 people and more than 9,000 operating businesses. It's home to Cadbury's second-largest factory in Australia, but perhaps most famous for the development of the "Pride of Ringwood" hop variety in 1958, which today flavours Foster's Lager, Victoria Bitter and many other beers around the world. However, despite its size and commercial clout, there is currently limited quality hotel stock in this area.