Colliers International New Zealand National Director of Hotels, Dean Humphries, has announced that a record numbers of US visitors are coming to New Zealand on the back of increased airline capacity, with a number of other emerging markets such as the Malaysia, Hong Kong and Philippines also achieving strong growth.

"Strong guest demand together with minimal new hotel inventory over the past six months has resulted in occupancy rates remaining at record level across most regions, culminating in robust room rate growth (particularly in Auckland and Queenstown). This has resulted in Auckland achieving RevPAR growth 18.4% for the year to date September 2017, one of the highest levels in the wider Asia Pacific region."

Colliers International Research

"Turning to the investment front, we are witnessing strong interest for hotel assets in all key centres, however opportunities remain scarce with no major hotels having changed hands thus far in 2017. With existing inventory being tightly-held, there are now a growing number of parties purchasing land or under-performing commercial buildings for development and conversion opportunities. Australian fund Pro-Invests' acquisition of part of the former NZME site on the corner of Albert and Wyndham Street in the Auckland CBD to develop a 490-key dual-branded Holiday Inn Express and Even Hotel is a prime example of such development interest."

Investment activity has also spread to many provincial regions throughout New Zealand where investors are seeing improving fundamentals as the tourism boom spreads across the country. To this end, Colliers has concluded sales of hotels in Rotorua, Hamilton, National Park and Hawkes Bay in recent months.

With team New Zealand looking to defend the America’s Cup, the oldest sporting trophy in the world, in Auckland in the summer of 2020/21, it is anticipated that the event will be a major catalyst to stimulate further hotel development in the country’s largest hotel market.

Click here to download the full New Zealand Hotel Market Snapshot October 2017.

Humphries is currently offering for sale the Hotel Coachman, arguably Palmerston North’s most popular hotel and event facility. 

Click here to view more information on the Hotel Coachman.

To discuss the New Zealand hotel market in further detail, phone or email Dean Humphries via the below contact details.

See also:

Get to know Dean Humphries of Colliers International

Hotel development in New Zealand shows unprecedented growth

Christchurch Airport Master Plan and upgrade revealed

Construction set to start on $240 million Christchurch Convention Centre

The Pacifica, New Zealand’s highest residential tower and boutique hotel to arrive in 2020

Designer high-tech M Social Auckland hotel launched