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More Hotels on The Way

More Hotels on The Way

31 July 2017 - The value of consents for hotels, motels, and other short-term accommodation shot up to $490 million in the June 2017 year, Stats NZ said today. New hotels in Auckland and Canterbury drove the 216 percent increase from the June 2016 year.

The Auckland value for short-term accommodation buildings was boosted by consents for two substantial new hotels – Park Hyatt Auckland and SkyCity's New Zealand International Convention Centre. Five other hotel projects had consent values over $10 million – in Auckland, Wellington, and Christchurch, including an office building conversion and a refurbishment.

"Investment in hotels, motels, and other short-term accommodation more than tripled in the June 2017 year," prices, accommodation, and construction senior manager Jason Attewell said. "This coincides with ongoing record international visitor numbers."

Annual visitor arrivals grew 10 percent in the June 2017 year, following an 11 percent rise in the June 2016 year.

Auckland, Canterbury, and Wellington regions had the highest values for hotel building consents in the June 2017 year. However, in the 2016 year, Otago and Canterbury regions had the highest values, and together contributed half of the $155 million worth of consents for this category. Investment before the June 2017 year had been relatively low, following higher levels in the three years to June 2008.

See also:

Building Consents Issued: June 2017 for more data and analysis

Over 30,000 new homes consented in the last year – media release


ENDS


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