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It is estimated a total of 26 additional hotels, above and beyond what is currently planned, will be needed over the next ten years to meet expected tourism demand in our major tourist centres, according to new independent research released recently. The research is a key part of “Project Palace”, a programme to accelerate new private sector investment in New Zealand’s hotel infrastructure led by NZTE and the Government’s Investment Attraction Taskforce.
“This is the first time we’ve had quantified data on the effect that the tourism growth projections will have on hotel occupancy,” Economic Development Minister Steven Joyce says.
“This research will be a great help to private investors considering when and where to invest in New Zealand’s fast-growing tourism accommodation industry.”
NZTE, Tourism New Zealand (TNZ), and the Ministry of Business, Innovation and Employment (MBIE) commissioned the research report to gain a more accurate understanding of the demand and supply for hotel accommodation now and in the future across peak and off-peak seasons.
“Communities right across New Zealand are benefiting from the unprecedented growth in tourism, and the Government is focussed on ensuring our towns and cities are well placed to host these visitors,” Associate Tourism Minister Paula Bennett says.
The research focused on Auckland, Rotorua, Wellington, Christchurch and Queenstown and shows that, if demand and supply estimates are borne out, the shortfall in new hotel rooms is expected to be up to 4,526 across these centres by 2025, over and above new hotels currently planned. That is the equivalent of 26 hotels the size of the Sofitel Viaduct in Auckland.