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New Zealand Hotel Market Snapshot

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NZ_AucklandCBD_Hotels_New Zealand Hotel Market Snapshot October 2021

October 2021

A delta outbreak in August has postponed what was the early stages of a recovery during 2021, which saw strong domestic demand and the opening of the trans-Tasman bubble.

Unfortunately, New Zealand went into an Alert Level 4 lockdown with Auckland however remaining at this level for 5 weeks before dropping to Alert Level 3.

With ongoing case numbers (primarily in the Auckland region), the Government has acknowledged an elimination strategy is challenging, now focusing on fully vaccinating 90% of the population above 12 years of age.

With ongoing travel limitations in place and international borders likely to remain closed until at least Q1 2022, this will further impact the performance of many hotel assets across New Zealand.

At this stage, it looks as though the remainder of 2021 will be challenging with any further recovery now delayed until the first quarter of 2022.
 
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New Zealand Hotel Market Snapshot

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Related Experts

Dean Humphries

National Director | Hotels

Auckland

Dean is a highly respected hotel investment advisor specialising in the disposal, acquisition and valuation of hospitality and tourism assets.  Dean provides advice to many institutional and tourism related entities including those noted in the client info tab.

Dean is also actively involved in a range of work in the wider South Pacific basin including; Fiji, Tonga & Samoa.

Dean joined Colliers International in May 2013 as National Director, Hotels for New Zealand and the South Pacific.

Prior to that Dean was Executive Vice President of Jones Lang LaSalle Hotels & Hospitality Group New Zealand & Queensland with over 25 years’ experience in the wider property industry.

He has also been actively involved in the wider property industry, holding a senior lecturing position at the University of Auckland between 1999 and 2011.

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