Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Hotel and apartments to give financial benefits to Dunedin

November 30 2012

Proposed hotel and apartments to deliver ‘significant’ financial benefits to Dunedin

The proponents of a five-star hotel and apartment building on the Dunedin waterfront say it would deliver “significant” economic and financial benefits to the city.

This week Dunedin City Council is meeting ratepayers to discuss proposals to stop the ongoing financial slide of the Forsyth Barr Stadium – with debts projected to amount to $4m for each of the next three years.

Betterways Advisory Ltd director Steve Rodgers, the spokesman for the hotel project, said not only would the hotel give a massive boost to the commercial building sector during design and construction, but employ around 100 people, create more work for hotel service industries, and deliver huge benefits to ratepayers once operational.

“We are confident that it will increase tourists choosing Dunedin as a destination, which will benefit all tourism operators and the existing accommodation providers,” he said.

“Plans are for 164 apartments in the building, which based on average sales values would deliver more than $400,000 into Dunedin City Council coffers on an annual, ongoing basis.

“While it might be difficult at this stage to accurately predict increased visitor numbers and the wider benefits for the Dunedin business sector from the hotel, the apartments and the hotel would provide a substantial increase in the rate income base for the city.

“The apartments would be marketed for residential accommodation and as an investment opportunity to local, New Zealand and overseas individuals or businesses, and as such would deliver flow-on benefits to the economy.

“There are so many levels on which the proposed hotel is in the best interests of this city.

“As this is a privately-funded proposal, it has no financial affect that will increase the debt burden of the city and ratepayers.”

Tourism Dunedin CEO Hamish Saxton said that the hotel proposal had attracted interest from vital connections in the city of Chong Qing, as highlighted by the visit of Deputy/Vice Director of Municipal Administration and Chair of Chong Qing City Travel Media Ltd Mr Yi Min Sun.

“Dunedin needs to take advantage of the surge in growth from the Chinese market to New Zealand, the third largest visitor source to the country,” he said.

“In order to be attractive and relevant to the market, visitor offerings need to be refreshed or developed to meet expectation. A five-star property is not only relevant to the Chinese market, but to New Zealand and global business and leisure travellers who have expectations of high-end accommodation.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news