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Most of NZ’s major hotel markets will pass pre-Covid RevPAR as early as this year.
The recovery is being led by particularly strong room rates, says the agent.
The strong results, particularly in Rotorua, are being achieved despite occupancy still in recovery, says the agent.
The record value in hotel acquisitions recorded in 2021 is a sign of confidence in the sector, says the agent.
Queenstown is the only centre lagging on most hotel indicators.
The agent pointed to Govt work and the rebound in domestic demand for 2020’s performance.
More people are pounding the pavements in central Queenstown than ever before, according to the results of Colliers International’s 2018 Queenstown CBD Pedestrian Count.
Queenstown is in desperate need of new visitor accommodation and the response to date is well short of demand, according to Colliers International.
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