Australia’s gaming and entertainment group Echo Entertainment has announced plans to invest $345m to construct a new hotel tower in Gold Coast and renovate the entire Jupiters complex.

Upon completion in early 2018, the new six-star, 17-storey Jupiters Hotel will offer more than 70 luxury suites in the new tower, in addition to the existing 592 rooms.

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Queensland premier Annastacia Palaszczuk said: "More than 800,000 international visitors already come to the Gold Coast each year and my government is committed to working with the tourism industry to continue growing those numbers.

"The new rooms will help accommodate the games’ visitors and attract tourists for decades to come.

"The new rooms will help accommodate the games’ visitors and attract tourists for decades to come."

"They start flowing now with construction of the new tower expected to create 500 jobs on-site and a further 350-400 off-site supporting the construction activities."

Echo Entertainment’s latest investment is expected to deliver 1,700 jobs. The Jupiters Hotel will add to the Gold Coast’s current stock of six-star accommodation, Palaszczuk said.

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Amenities to be offered by the hotel include new restaurants, bars and landscaping.

Echo Entertainment CEO Matt Bekier said the project was a celebration of the Gold Coast.

Mr Bekier said: "To that end, we have been working with local designers and international architects to ensure it resonates with the local community, as well as its broader domestic and international appeal."

Echo Entertainment Group chairman John O’Neill said the company proposes to assist in the transformation of the Gold Coast before, during and after the 2018 Commonwealth Games.