Queenstown’s Sofitel Hotel was bought by the New Zealand Hotel Fund late last year. PHOTO: ODT FILESThe opening of New Zealand’s borders has brought a ‘‘delayed but welcomed’’ recovery for Queenstown’s hotel market, a broker says. Commercial real estate company Colliers recently released its New Zealand hotel market report for for the first quarter of the year. Mr Humphries expected that trend to flow through to New Zealand, particularly Queenstown ahead of the winter skiing season. The hotel, which sold for an undisclosed sum, was bought by the New Zealand Hotel Fund, a partnership which included Russell Property Group, New Zealand Superannuation Fund and Lockwood Property Group.

Source: Otago Daily Times May 09, 2022 21:46 UTC