Hotel Coachman is one of the most established and popular accommodation and events venue in the Manuwatu region, and a clear market leader in Palmerston North.

Located at 140 Fitzherbert Avenue, just 800m from the city centre, the hotel is a favourite of many of the region’s corporate and business travellers, as well as often hosting sporting teams and events guests.

Dean Humphries, National Director of Hotels at Colliers International says the effects of New Zealand’s current tourism boom are now being felt in the provincial markets with many regions enjoying rising occupancy and room rates, culminating in increasing revenue and profitability margins.

“We are witnessing an increased level of interest for provincial tourism accommodation assets as investment opportunities in the large cities are simply not available due to existing owners holding on to their properties to reap significant gains from buoyant trading conditions,” he says.

“Furthermore, savvy investors are now realising that provincial hotels are excellent value for money, offering significantly higher investment returns, in some cases in excess of 10 per cent per annum; underpinned by a strong revenue and profit base.”

Situated on a prime freehold site of 7,058sq m bound by Fitzherbert Avenue and Chaytor and College streets, the Hotel Coachman provides a mix of well-appointed hotel and motel rooms together with an award-winning restaurant and bar, four function rooms, and a range of recreational facilities.

Humphries notes recent transactions completed by Colliers International in 2017, such as the Ambassador Hotel in Hamilton, SilverOaks Resort Heritage in Rotorua and The Park Hotel in National Park, are prime examples of growing investment interest in the regional hotel sector.

“More often than not, purchasers were able to secure established assets at below replacement cost and with strong prospects of further growth as the tourism boom continues.”

Humphries says the Hotel Coachman comprises a 42-room hotel, a 29-unit motel complex, and a standalone two-bedroom villa. The Tudor-style hotel, built in 1986, occupies 4,239sq m over three levels.

Its well-appointed guest rooms include 30 standard rooms of 25sq m each, 10 deluxe rooms of 26sq m each, and two first-floor executive suites of 48sq m and 68sq m respectively.

“All are presented to a high standard, in keeping with the building’s traditional features, and feature in-room phones and Wi-Fi access,” says Humphries.

“The standard rooms feature queen size beds, while the deluxe and executive rooms feature king size beds. Most have wall heaters, while the third-floor deluxe rooms are air conditioned.”

The motel, built in 1969 and progressively extended and upgraded between 1973 and 2009, occupies 1,530sq m over a single level.

The hotel’s four function spaces can cater for events of up to 250 delegates, with additional capacity from the restaurant.

Click here to view the Hotel Coachman website.

To discuss the sales process and learn the EOI close date contact Dean Humphries of Colliers International via the below contact details.

This is a promoted article.

See also:

Get to know Dean Humphries of Colliers International

Hotel development in New Zealand shows unprecedented growth

Brand new Christchurch CBD hotel for sale

Nelson peninsula's The Honest Lawyer pub for sale