Administrator appointed at ‘hotel within hotel’

Administrator appointed at ‘hotel within hotel’
The Sofitel Viaduct Harbour hotel on Auckland's waterfront. (Image: Supplied)
Maria Slade
A judge has appointed an administrator to the five-star Sofitel Auckland Viaduct Harbour hotel’s body corporate amid concerns about improper use of maintenance funds and essential repair work not being carried out.The decision is the latest chapter in a long-running battle between the hotel’s wealthy majority owners, the Pandey family, and minority investors in the property.Since 2021, a hotel within a hotel has operated at the luxury waterfront site, with the Pandeys running the five-star Sofitel brand and the minority un...

More Property

Major corporates disavowing Du Val information memorandum
Finance

Major corporates disavowing Du Val information memorandum

Corporates disavow Du Val IM amid regulatory scrutiny.

Levelling the playing field with Kāinga Ora
Policy

Levelling the playing field with Kāinga Ora

Chris Bishop says he doesn't care who builds social houses, just that they get built.

Oliver Lewis 26 Nov 2024
Asset Plus progresses towards wind-up
Property

Asset Plus progresses towards wind-up

The firm clears debt, issues a special dividend, moves towards wind-up.

More confidence about housing: ASB
Economy

More confidence about housing: ASB

Sentiment is improving, albeit slowly, the Housing Confidence Survey shows.