Investment demand in NZ hotel market remains robust says Colliers Report
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Investment demand in NZ hotel market remains robust says Colliers Report
To end September the majority of regions witnessed significant improvement in revenue per available room over the corresponding period in 2020.
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Colliers
Colliers has released its October report on the state of the New Zealand hotel market.
The first half of 2021 saw strong domestic demand and the opening of the trans-Tasman bubble, though this very healthy recovery has been postponed by the Delta outbreak in August.
Regardless, the report finds that investment demand remains robust, albeit there have been no significant sales announced in the past quarter.
For the year ending 30 September 2021, the majority of regions have witnessed significant improvement in revenue per available room over the corresponding period in 2020, with the exception of Queenstown and Auckland.
Source: Colliers
Christchurch and Rotorua saw the highest improvement at 34.4% respectively, followed by Wellington (24%), while occupancy rates range between 50% and 60% in all regions with the exception of Rotorua (49%) and Queenstown (43%).
Average room rates have remained firm across the Country sitting in a tight band between NZ$160 and $190.
Read the report here: New Zealand Hotel Market Snapshot October 2021
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