Choice Hotels Asia Pacific has announced the acquisition of four new-build properties across Australia and New Zealand, adding a total of 431 rooms to the group’s portfolio in the next three years.
Why investors need to check-in to NZ’s motel sector
New Zealand’s accommodation sector is in an enviable position, with the number of tourists surpassing the number of beds available with motels being a cost-effective point of entry.
The 2017 financial year has exceeded all of Resort Brokers New Zealand expectations, with the final two transactions being settled before the end of March, their total gross sales value eclipsed the previous financial year result.
Crown land earmarked for five-star hotel adjoining Christchurch convention centre
An operator is being sought for a five-star hotel, which will form part of a well-planned development in Christchurch’s Cathedral Square, neighbouring the $240m Christchurch Convention Centre due to be completed in 2020.
Belvedere Apartments management rights up for grabs
Belvedere Apartments in Wanaka, New Zealand offers a small manageable operation which includes Management Rights and the real estate of a managers apartment and reception.
The performance of New Zealand hotels nationwide continues to improve with a recorded occupancy rate of 81.2% in the year to December 2017, with Queenstown the fastest growing market again in 2017 reporting RevPAR growth of 16.1%.
New Zealand is likely to start feeling the effects of “tourism fatigue” as record-breaking visitor numbers put an increasing strain on accommodation and infrastructure.
NZ hotel owners look to divest in buoyant investment climate
More hotels will be offered for sale this year as owners look to take advantage of the buoyant investment climate by selling off increasingly valuable assets.
The businesses of Portmans Motor Lodge, BK’s Chardonnay Motor Lodge and Te Awa Motel have sold in the past months finishing off a strong year for Resort Brokers New Zealand.
World-famous wonders of New Zealand wilderness surround Wyuna Preserve lots for sale
The internationally-renowned natural beauty of New Zealand's South Island combines with many of the conveniences of modern life at the Wyuna Preserve Gated Community, the lots of which are among the last locations on the shores of Lake Wakatipu that will ever become available for sale.
Fraser Suites Singapore named World's Leading Serviced Apartments for the second time
Fraser Suites Singapore has topped a competitive field to be named the World's Leading Serviced Apartments at the World Travel Awards Grand Final Gala Ceremony in Oman.
An office tower at 2-10 Wentworth Street, Parramatta NSW has been sold by Centuria Property Funds for $105.3 million in a deal brokered by Steve Kearney, Simon Fenn, Mark Hansen and Claire Zouroudis from Cushman & Wakefield, and Bevan Kenny and Andrew Hunter from CI Australia.
Six years from test batches to International Producer of the Year for Aussie gin distillery Four Pillars
Established in 2013, earlier this year the Yarra Valley company also became the first ever local distillery to be awarded Australia’s Liquor Brand of the Year.
