Hotel sales pipeline hits $250m, but new developments slow

Hotel sales pipeline hits $250m, but new developments slow
Very few new hotels are planned for next year. (Image: BusinessDesk)
Brent Melville
International private equity could drive a resurgence in New Zealand hotel sales and development, with $250 million already in the sales pipeline this year, a new report says.That’s almost double the “relatively subdued” $138.3m in transactions last year, which was down 50% year-on-year on 2022, as a spillover from pandemic slowdown, a report by commercial realtor Jones Lang LaSalle (JLL) said.The highlight deal last year was the sale of the 253-room Mt Cook Hotel Collection by Distinction Hotels, a $31m sa...

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