Colliers National Director of Hotels, Dean Humphires has stated it is hard to believe we have seen virtually no net addition to the NZ hotel inventory in the past five years, despite almost 1.5 million additional tourists visiting New Zealand.

"In our gateway city of Auckland for example, we have seen a net addition of 526 rooms added to the hotel stock since 2013."

"According to the most recent update of the Colliers New Zealand hotel database, there are 2,600 new hotel rooms (22 projects) across our five key markets currently under construction with a further 6,600 rooms across circa 35 projects now proposed or mooted."

"Auckland remains the main beneficiary of the current development phase accounting for almost half of all new hotel rooms under construction throughout the country. The completion of the NZICC in late 2019 and the America’s Cup and APEC Summit in 2021 continues to fuel further interest."

"Outside of Auckland, development activity is most pronounced in Wellington and Christchurch accounting for 824 rooms under construction. Queenstown, continues to lag with just has three hotels under construction totalling circa 400 rooms. "

"Fortunately the growing development pipeline across most key centres will now see notable increases in respective hotel inventory over the medium to long term."

Further to the research which was published by Colliers International, NZX listed Precinct Properties announced on 16 August a $298 million development at the site of the current HSBC House on One Queen Street. The development is to comprise a luxury hotel with premium office accommodation and a selection of food and beverage options which is to include a roof-top bar.

InterContinental Hotel Auckland to anchor $1bn One Queen Street development in Commercial Bay

This new flagship hotel, the InterContinental Auckland will be managed and operated by InterContinental Hotels Group (IHG) providing a total of 244 guest rooms together with a restaurant, meeting facilities, health club and club lounge facilities.

Colliers Hotels lead the international operator selection process for this prestigious development and assist Precinct in the development feasibility of what will be one of Auckland's most iconic waterfront hotels.

Click here to view the full research summary published by Colliers International.

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

See also:

New 'Smart' hotel opens in Queenstown

Auckland CBD Holiday Inn and EVEN Hotel site sold to Pro-Invest for $31m

New Zealand’s first Hotel Indigo opening in Auckland

New $65m Sudima Auckland Hotel opening next to New Zealand International Convention Centre