Premium Hotel Investment Opportunity! Holiday ...

10, Tryon Street, Whakarewarewa, Rotorua

Price On Application

Proposed Usage
Hotel & Leisure
Floor Area
13000.00 m²
Description:
Property ID
1c14624

Premium Hotel Investment Opportunity! Holiday Inn Rotorua for Sale



Holiday Inn Rotorua is located in one of New Zealand’s leading tourism hotspots being strategically adjacent the world renowned Whakarewarewa geothermal reserve and Maori cultural centre; one of the most popular tourist attractions in the region. The Hotel comprises a total of 203 four star plus (Qualmark-rated) guest rooms together with a fully licensed restaurant and bar, and six (6) conferencing facilities providing capacity for circa 1,000 delegates, as well as a wide range of recreational facilities. Located on 10,987sqm of freehold land, the Hotel was originally built in the late 1960’s and has been significantly extended over time, with the most recent extension completed in 2003. A substantial capital upgrade programme was also completed in 2016/17. The Hotel has been operated by international hotel managers InterContinental Hotel Group (IHG) under their Holiday Inn brand since 2011, with the ability to continue this management into the foreseeable future. However, a strategic and rare opportunity also exists to acquire the Hotel on a vacant possession basis, hence allowing for self-branding, rebranding and repositioning opportunities. New Zealand's current tourism boom is now in its fourth year of exponential growth, with key tourism regions such as Rotorua, enjoying rising occupancy and room rates, culminating in increasing revenue and profitability margins. The Holiday Inn Rotorua therefore continues to benefit from increasing year on year revenue trends with further upside anticipated over coming years. The sale of the Hotel represents a rare opportunity to enter into one of the most tightly held hotel markets in the country and to capitalise on New Zealand’s booming tourism sector. The Holiday Inn Rotorua is for sale by way of an expressions of interest campaign closing at 4pm, Thursday 15 March 2018, unless sold prior.

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Whakarewarewa Area