The value of consents for hotels, motels and other short-term accommodation has been boosted in Christchurch by the number of new hotels planned for the city.
Stats NZ figures show the national value shot up to $490 million in the June 2017 year, with new hotels in Canterbury and Auckland driving the 216 percent increase from the June 2016 year. Investment in hotels, motels and other short-term accommodation more than tripled in the June 2017 year.
The number of new short-term accommodation consents in Christchurch remained at the same level as the previous year, but the value of these was up 258 percent.
ChristchurchNZ chief executive Tom Hooper says while the number of consents has tailed from their peak, it was pleasing to see the value increasing significantly.
“This is still a very busy, active economy. These hotels, and other accommodation providers, that are being consented will be needed as key projects in the city are completed and visitor numbers continue to increase.”
Auckland, Canterbury, and Wellington regions had the highest values for hotel building consents in the June 2017 year. However, in the 2016 year, Otago and Canterbury regions had the highest values, and together contributed half of the $155 million worth of consents for this category. Investment before the June 2017 year had been relatively low, following higher levels in the three years to June 2008.
The increase in the value of consents for the Jun 2017 year coincides with ongoing record international visitor numbers in the country. Annual visitor arrivals grew 10 percent in the June 2017 year, following an 11 percent rise in the June 2016 year.