The Qualmark four-star-rated Paihia Pacific Resort Hotel is up for sale as a freehold going concern offering a new owner a variety of future income earning streams.
Located on 5,549 sq m of land at 25 Kings Road in Paihia, the four-building complex set in semi-tropical landscaped grounds has 36 suites and a wide range of other facilities.
It is being marketed by Millie Liang and James Chan, of Bayleys Auckland office, in conjunction with Alan Broadbent, Bayleys Kerikeri. Tenders for the land, buildings and business close on March 27, unless the complex is sold prior.
“Paihia Pacific Resort Hotel offers comfortable, affordable accommodation with a selection of spacious, air-conditioned and fan cooled rooms,” says Liang.
“The complex has multiple business streams, being well set up to cater for functions such as weddings and conferences as well as causal guests who are spending time in the popular Bay of Islands.
“The wide range of guest facilities include a swimming pool, spa and sauna, restaurant, bar, gymnasium, and laundry. There is plenty of on-site car parking. Just across the road are floodlit tennis courts, which hotel guests can also use free of charge,” she says.
“The property is very centrally located, one block back from busy Marsden Road, and a short stroll from the town’s cafes, restaurants and shops and about 150 metres from the waterfront.”
The Paihia Pacific Resort’s main building comprises a reception, restaurant, conference room and lounge bar which opens out on to the pool. The three other buildings house the guest accommodation.
There are eight standard double rooms, 15 premier rooms which sleep up to three guests, and 12 superior suites which are very large split level rooms with a lounge area that can accommodate up to four guests.
All rooms have kitchenettes - enabling guests to self-cater or they can use the on-site restaurant which offers dinner, lunch and full cooked and continental breakfasts.
Ms Liang says the Paihia Pacific Resort has one of the best equipped purpose-built conference and function facilities in the Bay of Islands, and is ideal for small to mid-sized conferences. It is located on the ground floor, providing easy vehicle access.
The conference room measures 13.6 x 14.5 metres, with a raised stage measuring 6 x 3.5 metres, is sound proofed with air conditioning and central heating and is serviced by a nearby bar. It has the latest audio-visual/presentation and communication equipment including hi-fi stereo sound and a controlled lighting rig which would be available to the next owner, says Ms Liang.
“The capacity of the room is approximately 80 with banquet-style seating and up to 150 with theatre style seating and is suitable for product launches, trade days, lectures business gatherings as well as for private functions, including those such as weddings requiring a dance floor.”
Ms Liang says there is plenty of potential to further develop the business and the Paihia Pacific Resort Hotel is being offered for sale at a time when tourism visitor numbers and hotel occupancy are at record levels.
Visitor arrivals to New Zealand were up five percent in December 2014 compared with December 2013, to 402,500, the highest ever recorded for any month, Statistics New Zealand says.
China continued as the biggest source of growth, with 39 percent more arrivals from China than in December 2013. China also contributed the biggest annual increase in visitors. Total visitor arrivals from all countries numbered 2.86 million in the December 2014 year, also up five percent from the previous year and ahead of the Government’s forecast of 2.805 million.
Ms Liang says the Bay of Islands in particular is benefitting from the increase in Chinese visitors, because it is a favoured destination for them.
“They also prefer to stay in good quality, although not necessarily top of the range, hotel accommodation rather than motels or budget accommodation.”
The Tourism Industry Association of New Zealand (TIA) reports the New Zealand hotel sector has also had a record year, marked by high occupancy rates and improved returns. TIA hotel members’ occupancy for 2014 was at 76 percent – three percentage points up on 2013 and the highest annual occupancy rate in the last 10 years.
The latest regional hospitality occupancy figures from Statistics New Zealand show that guest nights spent in short-term commercial accommodation in Northland were up 14.6 percent in November compared with 5.9 percent nationally.
Ms Liang says the Paihia Pacific Resort Hotel is well geared up for visitors to the region with an in-house tour desk with a wealth of information on the activities and tours that are available in the Bay of Islands and wider Northland region and which can take care of bookings and other arrangements for guests.