International hotel developers are increasing their interest in New Zealand as guest nights and tourism inflows continue to strike new records as per Bayleys Real Estate.Published on : Monday, March 12, 2018
International hotel developers are increasing their interest in New Zealand as guest nights and tourism inflows continue to strike new records as per Bayleys Real Estate.
Nick Thomson who is the Bayleys director of hotels and tourism mentioned that globally, travel is emerging as easier and more accessible for a greater global populace as well as the number of people travelling from conventional markets like Europe and emerging markets like India and China.
New Zealand has been enjoying a thriving tourism sector of late as low airfares have made it easier for tourists to travel to the remote South Pacific destination.
Moreover the weakening of Kiwi dollar has added to the appeal of the country.
Short-term tourist arrivals that are inclusive of tourists, people visiting friends and family and also people traversing for work had reached 3.7 million in the January year, up 5.5% from a year earlier.
Data showed today that guest nights had risen to 4.97 million in January from 4.9 million a year earlier, as per Statistics New Zealand.
Particularly hotels were sought after with hotel guest nights increasing 6% to 1.39 million in January from a year earlier. The hotel occupancy was 74.4% in the month as compared to 72.2% a year earlier.
Latest building data also underscores activity in the sector as a series of activities in industrial and commercial accommodation properties like hotels that are made up for slower residential construction in the value of building work in New Zealand in the fourth quarter.
Thompson said that Queenstown and Auckland were ‘hotbeds’ for international developers.
In 2017 Bayleys had sold two significant Auckland CBD development sites, one to Australian-based Pro-Invest that is building a new hotel with about 500 rooms and another to a Singaporean company that would be building a hotel with 350 rooms.
Pro-Invest is also ready to build a 227 bedroom hotel in Queenstown, according to its official website.
Thompson did not specify the sale price for Auckland sites but mentioned that they set new benchmarks. The demand is not just restricted to Queenstown and Auckland while the released statistics actually improve the equation for development.
Tags: auckland, Bayleys Real Estate, new zealand, Queenstown, Statistics New Zealand