Mountainside folly: what now for the Chateau?

Mountainside folly: what now for the Chateau?
A romantic money pit: the Chateau was postcard perfect when it snowed. (Image: NZME)
Pattrick Smellie
Fixing seismic weaknesses and other upgrades at the iconic Chateau Tongariro Hotel would have cost more than $15 million for a hotel that didn't make a profit in 31 out of 32 years to 2017.Releases to BusinessDesk under the Official Information Act show that the Chateau closed in February because the hotel’s operator, Kah New Zealand, could not reach commercially acceptable terms with the building’s ultimate owner, the Department of Conservation, following six years of negotiations for a renewal.Now, the fate of the Category 1 h...

More Editor's Picks

The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Santana Minerals gains +3.05% in NZX debut
Markets

Santana Minerals gains +3.05% in NZX debut

The company has ambitious plans for a new gold mine in Otago.

Rebecca Howard 25 Jul 2024
Action against Hawkins directors stalled
Property

Action against Hawkins directors stalled

Proceedings by the failed group's liquidators relate to a leaky building claim.

Maria Slade 24 Jul 2024
Stephen Tindall supports Warehouse takeover offer
Retail

Stephen Tindall supports Warehouse takeover offer

Bid from Australian private equity firm values shares at between $1.50 and $1.70.