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

 

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>


Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news