2020
The Colliers International Hotels division is pleased to share with you the Year in Review of the New Zealand Hotel sector 2020.
The absence of virtually all international demand since March 2020 resulted in occupancy levels declining significantly across all key regions. However, hotel room rates showed real resilience, supported by government contracted mandatory isolation business as well as the domestic leisure and corporate sectors.
Despite the many challenges the wider hotel industry is facing with Covid-19, robust investor demand remains for prime strategic accommodation assets, with contracts being exchanged on two significant hotel assets Q4 2020.
