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Opportunities for tourism industry investment

Opportunities for tourism industry investment

The new luxury hotel being built on Auckland’s waterfront demonstrates the opportunities that exist for investing in commercial accommodation in New Zealand, the Tourism Industry Association New Zealand says.

Tourism is showing outstanding growth and investors are responding. The latest commercial accommodation figures, released by Statistics New Zealand today, show the growth is continuing strongly. National guest nights were up 5.3% for the year ending July, and there have been 16 consecutive months of increases, TIA Chief Executive Chris Roberts says.

“It is really pleasing to see that in line with the aspirations of Tourism 2025, the investors behind the new $200 million Park Hyatt Auckland are targeting the top end of the visitor market,” he says.

“The Hyatt is an internationally recognised brand. It will promote the new hotel to its customers, and this will encourage travellers who know and like this brand to consider New Zealand as a destination.

“With the industry’s focus on growing value faster than volume, this is the type of development we need to reach the Tourism 2025 goal of almost doubling total tourism revenue to $41 billion in the next decade.”

The rapid growth in the visitor economy offers great opportunities for more tourism infrastructure development. Centres like Auckland, Wellington and Queenstown are expected to have the ‘no vacancy’ signs up at times this summer. However, a sensible approach is needed in bringing on more developments to meet the growing demand, Mr Roberts says.

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“To meet the goals of Tourism 2025, it is essential that we encourage investment to improve the quality of current infrastructure to meet rising visitor expectations, as well as creating a positive environment for investment in new facilities.”

TIA has identified infrastructure investment as a priority and is working on behalf of the tourism industry to identify opportunities and remove roadblocks. As well as accommodation, investment is needed in airports, transportation, port facilities, convention facilities, and visitor attractions and activities.

New Zealanders also benefit enormously from these types of infrastructure investment, as they create jobs and contribute to building vibrant communities to live, work and play, Mr Roberts says.

TIA’s Accommodation Sector
TIA represents well over 600 accommodation sector members, from the largest hotel chains, to luxury lodges, holiday parks, backpackers, B&Bs, apartments and motels. All in their own way are making a vital contribution to our tourism offering and through their membership of TIA are supporting the aspirational goals of the Tourism 2025 growth framework.

ENDS

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