Gavin Faull and his Hong Kong-based company, Swiss-Belhotel International, have bought the Swiss-Belresort Coronet Peak at Arthur’s Point outside Queenstown from a company owned by Auckland property developer Tim Manning for an undisclosed price.
Swiss-Belhotel took over management of the business 2 years ago from the owner of the property, Queenstown Resort Hotels Ltd (Tim Manning, of Norwich Properties Ltd and formerly of Taradale Property Group Ltd). The sale was concluded by Barry Robertson, Steve McIsaac & Dean Humphries of Colliers International.
Mr Faull, chairman & president of Swiss-Belhotel, said this week: “This is a strategic move by Swiss-Belhotel International and endorses our confidence in Queenstown & the booming New Zealand tourism market.”
Mr Faull said Swiss-Belhotel would totally refurbish the hotel over the next 18 months. It has 78 rooms & suites, the only 7-lane bowling alley in Queenstown, 2 bars & 2 restaurants, and is near the Coronet Peak ski fields as well as the Shotover Jet operation and across the road from the Onsen hot pools.
Mr Faull has based his business in Hong Kong for 25 years after his 7 years as chief executive of Kingsgate International Ltd, which operated in Australia & New Zealand.
Swiss-Belhotel manages a portfolio of 125 hotels, resorts & projects in 17 countries, including New Zealand.
Attribution: Company release.