Hobart waterfront hospitality venues say they are holding back millions of dollars in planned redevelopments while they wait for a decision on Tasmania’s proposed stadium.
Hospitality Tasmania CEO Steve Old said businesses are eager to invest but need certainty before committing to major upgrades.
“They hear about the stadium and what it’s going to bring from business events, concerts, sport, and they’re all salivating about the excitement,” he said.
“But they’ve got to wait to see if it’s actually going to happen.”
Leo Miller, owner of T42 and Billy’s Burgers on Victoria Dock, said his venues could undergo a multi-million dollar transformation if the stadium proceeds.
Without it, upgrades would be scaled back to hundreds of thousands.
“We’ve got plans done. We’re confident the stadium will go ahead and the right decision will be made,” Mr Miller said.
“But we’re just waiting for that green light before we hit the go button.”
Miller said summer business alone isn’t enough to sustain year-round operations.
“We need conferences and festivals and functions and sports games to just get us through the rest of the year and really buzz the place and get those other events going.”
The stadium decision is crucial for winter business viability, according to Hospitality Tasmania.
Hobart waterfront accommodation currently sits at just 50 per cent occupancy during winter months, rising to 70-80% in summer.
“If we can get a stadium, if we can get business events and all these other events, we can get up to 75%, 80% minimum occupancy through winter as well,” he said.
“You walk through Salamanca on a Monday, Tuesday, Wednesday [right now], you won’t bump into anyone.”
Silverleaf, the landlord of T42 and Billy’s Burgers, is already midway through a $40 million redevelopment of the Victoria Dock precinct, including expanding accommodation from 56 to 98 rooms.
Miller’s planned upgrades include a revamped T42 venue and improvements to Billy’s Burgers, with the entire precinct set for new decking, paving, glass balustrading and heating.
Hospitality Tasmania is hosting information sessions in Launceston on Monday and Hobart on Tuesday, featuring stadium experts discussing the project’s business and economic implications for Tasmania.
It comes as a rally against the stadium is set to be held on Parliament Lawns in Hobart today.
