New Zealand can’t afford to ease up on hotel development
Thousands of more new hotel rooms are set to come on stream within the next seven years as a result of increased levels of hotel construction activity but New Zealand is still at risk of being left behind by other tourist friendly countries.
Griffith’s Quest Apartment Hotel sells for over $15m
Strengthening investor interest in Australia’s regional hotel market has underpinned the sale of Quest Apartment Hotel in Griffith for $15.25 million - representing a strong yield of 7.5%.
The wait is over for boutique-hotel lovers wondering what award-winning hotel group, Ovolo Hotels, has been keeping up its sleeve following last year’s acquisition of Brisbane’s New Inchcolm Hotel.
AMP Capital today announced it is commencing construction of Quay Quarter Tower following more than five years of planning and obtaining development approvals for the site, bringing a new tourism landmark to the city in 2021.
The Gold Coast 2018 Commonwealth Games will showcase the very best of the city over the next 11 days, with the latest Tourism Research Australia numbers confirming 13.12 million Gold Coast visitors spent a collective $5.09 billion for the year ending December 2017.
Two 27-storey glass towers at 113 and 100 metres tall are the jewels in the crown of Geocon’s Republic mixed-use development which will deliver 541 apartments and a 135-room Abode hotel.
Australian tourism spending soars above $40 billion
The record run for Australian tourism rolls on with spending by international visitors reaching a new high of $41.3 billion for the year ending December 2017, an increase of six percent on the previous year representing an additional $2.2 billion to the Australian economy.
A $583 million redevelopment of the Lindeman Island resort has been given the green light, six years after Chinese tycoon William Han bought the Whitsunday Island after the destruction of Cyclone Yasi in 2011.
A survey of hundreds of travellers around the globe by The Rees Hotel Queenstown, New Zealand has shown that hotels remain by far still the tried and true favourite for both leisure and business guests.
Iconic Scarborough project returns with new design
Chinese developer 3 Oceans Property has returned from the drawing board with a new design and development concept for their mixed use Iconic Scarborough proposal, after receiving an initial rejection from the Metropolitan Redevelopment Authority.
