It's the Great Lockup, as hotel rooms stay closed

It's the Great Lockup, as hotel rooms stay closed
Hotel availability is 'capped' due to chronic staff shortages. (Image: IHG)
Brent Melville
The hotel sector continued to climb out of the covid abyss last month, with occupancy getting back to 96% of comparable pre-covid levels. However, staff shortages are limiting the number of available rooms ahead of the summer period.That meant a slowdown in revenue per available room (RevPAR) for the month, particularly in Auckland, Rotorua and Queenstown, where RevPAR is still below 2019 levels, and tourists from outside New Zealand or Australia are still largely absent.Occupancy levels averaged out to about 65%, compared to 80% in October 201...

More Property

Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025
Senior Trust offeror gets a serve from FMA
Property

Senior Trust offeror gets a serve from FMA

Senior Trust has been paying returns with new investor funds and borrowings.

Maria Slade 26 Jun 2025
Du Val build-to-rent properties sold, PwC says
Property

Du Val build-to-rent properties sold, PwC says

The 171 units in May Rd and McKenzie Rd were bought in 2021 for $35m.

Maria Slade 23 Jun 2025
Auckland's multibillion-dollar midtown moment
Economy

Auckland's multibillion-dollar midtown moment

Auckland's midtown area is the target of several multibillion-dollar investments.