COMO COMO The Treasury is the top-ranked hotel in Perth, scoring 8.5/10 and placing #69 of 417 hotels across our index. This 2026 review covers why it outclasses everything else in the city, what the $738–$1,182 nightly rate actually buys you, and where the property still falls short.
COMO The Treasury occupies a singular position in the Australian luxury hotel landscape: a 48-room urban sanctuary carved from a painstakingly restored 19th-century heritage complex in the heart of Perth's CBD. The former State Buildings — once home to the Treasury, Land Titles, and General Post Office — have been transformed by architect Kerry Hill into an understated, Asian-influenced boutique hotel that feels closer in spirit to COMO's Bhutanese and Maldivian retreats than to any conventional Australian city hotel. It is deliberately un-flashy, trading the mirrored lobbies and gilded bling of competitors for muted palettes, natural materials, and a near-monastic sense of calm.
The hotel sits within a larger lifestyle precinct that includes Long Chim, Petition, Wildflower, Post, and an array of cafés and boutiques — meaning the property functions less as an enclosed hotel and more as a hushed residential wing attached to a genuinely vibrant food and drink quarter. This is both its signature charm and, for some, its chief quirk. There is no traditional reception desk; guests are seated in a discreet lounge and checked in with a glass of sparkling while luggage disappears. It is a small property that genuinely behaves like one: staff learn names, remember preferences, and treat guests as individuals.
In the Perth market, the competitive set is essentially the Ritz-Carlton at Elizabeth Quay and Crown Towers in Burswood. The Treasury outclasses both on intimacy, design seriousness, and service culture, even if it cannot match the Ritz for river views or Crown for amenity scale. Nationally, it belongs in the conversation with Capella Sydney and the Park Hyatt Melbourne — a genuinely international-standard city hotel in a city that, until 2015, did not really have one.
Design-literate couples on a milestone trip, solo travellers who value serenity and personalised service over resort-scale amenity, and well-travelled guests who appreciate COMO's broader aesthetic and are using Perth as a gateway to Margaret River, Rottnest, or the Kimberley. It is an outstanding choice for a short, indulgent city break where rooms, food, and spa matter more than harbour views, and for anyone who finds the international chains in Australia generic and wants something with a genuine point of view.
You want a water view or a resort-style pool deck — the Ritz-Carlton at Elizabeth Quay delivers both more convincingly, and Crown Towers offers the scale and integrated casino-and-theatre amenity that some travellers prefer. Families with young children may find the adult, minimalist atmosphere (and the bathroom layouts) a poor fit, and would be better served at the Ritz or Pan Pacific. Those who measure luxury by visible opulence — gilded lobbies, grand restaurant rooms, extensive club lounges — will find The Treasury too restrained. And anyone hoping for a truly hermetic hotel experience should note that the ground-floor precinct is shared with the public and has the buzz of a busy urban quarter rather than the hush of a private enclave.
At A$700–$1,500 per night, this is the most expensive hotel in Perth by a clear margin. The inclusions — breakfast, mini-bar, bottled water, snacks, high-quality toiletries — mitigate the sticker shock more than at most competitors, and for the quality of room and service delivered, the pricing is broadly defensible against international peers. Where value wobbles is in edge-case charges (valet parking at $40–$50 per night, credit card surcharges, laundry pricing that borders on punitive) and when service slips: at these rates, any falter — a forgotten order, a cold coffee, a missed turndown — registers harder than it would at a four-star property.
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