The new owners of the Nugget Point Hotel have plans for an extensive refurbishment, to bring the property up to a five-star-plus standard, over the next year. PHOTO: SUPPLIEDQueenstown's Nugget Point Hotel has sold for just over $20 million to Singapore-New Zealand buyer New Bay Group. Bayleys investment sales director Paul Dixon said the "ground-breaking" resort was "ahead of its time" when it was built in the 1980s. New Bay Group, which also owns hotels in Auckland, Wellington and Tauranga, has committed to an extensive refurbishment, which will restore Nugget Point to a five-star-plus standard over the next year. The hotel will be operated by experienced New Zealand company Capstone Hotel Management, which manages about 14 properties across the country.

Source: Otago Daily Times October 28, 2023 20:53 UTC