Calm before the buying storm, hoteliers eye up Auckland
City’s sudden room overcapacity and an improving lending environment make it attractive to offshore buyers, but hoteliers say city needs to firm up a strategy to attract major events.
T he Siriphatrawan family are getting back into the New Zealand hotel game.
Hotel deals could breach the $150 million mark by the end of this year, marking a significant recovery after drifting along rock bottom the past six months.
Nick Thompson, a director of Jones Lang LaSalle (JLL) hotels and hospitality, said there’d been an “almost immediate” spike in buyer
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