$200 plus a night needed for hotel rooms before new development feasible
Developers won't build new hotels until room rates justify sky-rocketing land and build costs.
Hotel room rates will need to hit more than $200 a night before new developments rise from the ground.
Although many regions have hit double-digit growth in room rates, translating to big profit margins and significant increases in property values, only Queenstown has hit an average daily rate of
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Sally Lindsay
Mon, 09 May 2016
Mon, 09 May 2016
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$200 plus a night needed for hotel rooms before new development feasible
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