Auckland's $40m Federal Street Car Park sold to ICD a prime candidate for new hotel development
The $40 million sale of Auckland's Federal Street Car Park building to Australian property group ICD Property Investment has achieved one of the highest price per square metre rates ever recorded in the Auckland CBD and will potentially pave the way for a new luxury hotel development.
Many New Zealand hotel markets are outperforming their Australian counterparts as demand for rooms continues to outstrip supply with Queenstown, Auckland and Rotorua among Australasia's top markets.
Five-star Horizon Hotel opening in Auckland next year
Auckland's new five-star Horizon Hotel will open in late 2019, bringing 303 new high-end rooms to the city centre being built alongside the New Zealand International Convention Centre.
QT Hotels which has launched two hotels in New Zealand in the past 12 months, has expanded the QT Museum Wellington Hotel by adding 18 rooms, and reveals that more are on the horizon across the country.
226-key Oaks Wellington CBD hotel opening next year
Oaks Hotels & Resorts is set to make its debut in Wellington on New Zealand's North Island, announcing plans to launch Oaks Wellington next year - converting the former Colonial Motor Company Building site (originally constructed in 1923) into a contemporary 4.5 star hotel.
Tourism industry calls Rotorua plan proactive and progressive
Tourism Industry Aotearoa is backing Rotorua Lakes Council’s plan for a multimillion dollar redevelopment of the Rotorua lakefront which aims to put it on a par with other internationally-renowned waterfronts.
Wyndham Hotel Group is responding to a growing demand for high-quality accommodation in Auckland by strengthening its presence with the addition of a new $22m Ramada Hotel & Suites Newmarket set to open mid-2020.
The Motel Oasis complex consists of 15 spacious units and a conference facility, all air-conditioned, very well appointed with quality chattels with the business offered for sale by Brent Hannah of Resort Brokers New Zealand.