International buyer snaps up Youth Hostel properties

Thu, 13 Oct 2022

The Youth Hostel Association NZ (YHA) has sold nine of its 10 remaining properties to an offshore buyer, with one understood to be going to a local buyer.The hostels, located in 'prime' tourist locations on both the North and South Islands, had been on the market since early this year after YHA shut up shop following pandemic-related border closures. The association had been operating in NZ for about 90 years, and continues to operate via a network of 17 hotels.Colliers' national director of hotels and tourism Dean Humphries co...

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