7 Jun 2015

NZ hotels 'tired and dated'

2:57 pm on 7 June 2015

A commercial real-estate agent said New Zealand's hotels are tired and dated, and urgently need to be upgraded to attract more wealthy tourists.

Hotel room

Hotel room Photo: 123rf

Stephen Burt, an Australia-based hotel broker for Colliers International, said hotel operators have stopped investing in their properties here because of poor returns.

He said that a lack of investment had led to a shortage of high-quality hotels.

Mr Burt is urging hotel owners to take advantage of the strong economy and low interest rates to upgrade.

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