Taj Hotels Resorts and Palaces spent a mere $27.1 million for one of the hottest hotels in Sydney. On its first venture in Australia, Taj dubbed the boutique property BLUE Woolloomooloo Bay, an apt name for the luxurious marina surroundings on the Wharf at Woolloomooloo. Indeed, this is a perfect location: a hop from the Sydney Opera House, the Royal Botanical Gardens, and the central business and shopping districts. Distinguished among the top hotels in Sydney-- on the Conde Nast Traveler Gold List it was among the "Top 3 Best Hotels for Location in Australia/South Pacific"— BLUE also has an acclaimed restaurant and bar. (The Water Bar was named one of the "Top 5 Bars in the World" by Wallpaper mag in 2004 and one of the "Top 10 Bars in the World" in 2003 by CNT.) The 100 lavish guest rooms—including 36 stunning Loft Rooms-- retain authentic characteristics from the renovated historic wharf structure, but emanate urban chic and are equipped with all the latest technology. Not to mention sensational views of Sydney Harbor.