We Understand a Hotel Development Life Cycle as well as the Sales & Leasing Process
The short-term accommodation sector is one of the fastest growing sectors in New Zealand. Annual visitor arrivals have increased from just under 2.5M in 2007 to over 3.6M in the ten years to 2017. Tourism is a leading export earner and driver of economic growth for New Zealand, directly contributing $12.9 billion or 5.6 percent of New Zealand’s GDP. The outlook for tourism continues to be bright, with official estimates of 4.9 million international visitors, and a projected annual international visitor spend of $15.3 billion, by 2023. This growth is forecasted to continue as new markets discover the wealth of natural beauty New Zealand has to discover. This rapid growth has put a strain on the industry and there is a need to increase the supply of hotels and beds especially in key tourist locations and cities. The sector includes everything from five-star hotels, exclusive beach resorts, bed and breakfast to caravan/camping sites and youth hostels.
Crown Commercial provide services for operators, tenants, landlords and investors across the country in all the key tourist locations, cities and regions. This involves site procurement, either an existing building suitable for conversion or land suitable for a new hotel development. We work closely with owners to establish the viability of a hotel development, from inception, feasibility, advising on design and planning, build costs, fit out specifications and costs, to projecting income and investment returns, whether it be a standalone hotel or a mixed use development with a hotel component. We also understand the importance in the value of mixed use developments with retail or the ability to sell down apartments in the success of each project.
We work with major national and international hotel operators to identify which brands, as well as what hotel rating is suitable for the location and property to meet market demand. We are able to give advice on the best operator structure, management agreement or lease. We specialise in the negotiation of hotel acquisitions which often includes the sale of existing hotels with a hotel operator secured under a management agreement. It might also be the sale of owner occupier hotels that are suitable for possible renovation, repositioning and rebranding.
Our detailed knowledge of the different brands, their requirements and parameters they operate within is key to negotiating the commercials in any deal and inevitably the success of a hotel project. We understand in a climate where lending is restricted, the security of a lease agreement from a hotel operator can be the difference of a development progressing or not. We can advise on all hotel lease commercials and the subsequent preparation of lease agreements.
Our clients choose to work with us because we are a one stop shop hotel consultancy for developers and operators with our broad market knowledge of the hotel sector. Our success is due to our ability to understand all aspects of a hotel development life cycle as well as the sales and leasing process.
Our Services include
Our Experience Is Your Asset
Crown Commercial specialises in providing effective consultancy and representation for the lease of property in the retail and hotel sectors. The company’s extensive market knowledge will help identify opportunities to achieve value whether for an owner seeking to maximise or realise the value of an asset base, or, an occupier seeking their first business premise, expanding, consolidating or relocating their operation. Our proven, proactive client-orientated approach has seen the company expand recently, retaining many clients who have successfully grown with the company. Whether the requirement is for acquisitions or disposals, Crown Commercial will provide specialized and tailored support designed to deliver results.
We understand that when it comes to selling your property having the right agent and industry knowledge couldn't be more important. We can prepare a marketing strategy tailored to your requirements. This could take the form of an “off market” transaction or as a full sales and marketing campaign with full media coverage. Whichever option you choose we will ensure it is targeted at the right people to get the result you want.