Perth could soon be putting on the Ritz, with speculation the iconic hospitality brand has won the right to build a luxury hotel at the city's new multi-billion dollar riverside development.

The Elizabeth Quay development is one of the controversial flagship developments being undertaken by the Barnett government with the aim of transforming the riverside section of the city at a public cost of $440 million.

It is hoped more than $2 billion of private investment will flow into the precinct, where an inlet is being cut into the Perth foreshore to create a waterside CBD centre for 200,000 sq m of office space, 35,000 sq m for shops and 1000 luxury apartments.

Since September last year, the state government have been calling for expressions of interest for the hotel and residential portion of the development, with a short list believed to include the Brookfield/Frasers Property Group, Leighton in partnership with Sheraton, and Hong Kong-based Far East Consortium.

The latter is thought to have included the involvement of Ritz Carlton in its bid.

If the Ritz Carlton were to come west, it would fit with the hotel's dramatic recent expansion, with three properties opening in Puerto Rico, Abu Dhabi and Vienna in the last 12 months.

Six new Ritz Carlton hotels are scheduled to open in the December quarter, including two properties in China. More will follow in Japan, China, Morocco, Egypt, India and Bali in 2014.

Elizabeth Quay is due to be completed in spring 2015.

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