Weaker hotel occupancy will impact investment, industry warns

Weaker hotel occupancy will impact investment, industry warns
Victoria Young
A tourism lobby group is warning flat hotel occupancy levels will affect investment in accommodation, as figures show the average national occupancy level for last year was 79.1 percent, the same as 2018. Tourism Industry Aotearoa today said hoteliers are unlikely to see any growth in their bottom lines this year, because there are no new major events scheduled in New Zealand this year. “Along with flat occupancy, the average hotel rate was slightly down at the national level. No growth in hotel income will eventually impact on employ...

More Property

Action against Hawkins directors stalled
Property

Action against Hawkins directors stalled

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

Arvida buyout lifts retirement sector
Property

Arvida buyout lifts retirement sector

On Tuesday, Arvida traded volumes of $127 million. Its competitors followed suit.

The change of heart behind Arvida’s US private equity buyout
Property

The change of heart behind Arvida’s US private equity buyout

The company’s share price rose 55% after the announcement.

Gregor Thompson 23 Jul 2024
Arvida shares up 55% after US private equity buyout news
Property

Arvida shares up 55% after US private equity buyout news

The scheme is unanimously supported by Arvida's board.

Gregor Thompson 22 Jul 2024