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Property

Building costs no barrier to hotel investors – yet

Paul McBeth
Mon, 12 Jul 2021

Queenstown's Holiday Inn Express opened in the depths of the pandemic. (Image: Supplied)
Paul McBeth
Mon, 12 Jul 2021
International investors still have plenty of appetite to back building new hotels on both sides of the Tasman, although they are wary of local construction costs getting out of control.Private equity real estate investor Pro-Invest Group opened the 227-room Holiday Inn Express in downtown Queenstown about a year ago, with international borders closed and doomsayers predicting the worst.That was the first hotel to open in New Zealand after last year’s covid-19 induced lockdown, which general manager Jason Sabin said ultimately put the oper...

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