A new operator for Holiday Inn Rotorua has been announced by NZ Hotel Holdings resulting in the popular venue becoming a Rydges Hotel from July, 2022.
The Holiday Inn Rotorua is part of a portfolio of hotels owned by NZ Hotel Holdings, a partnership between NZ Super Fund, The Russell Property Group and Lockwood Property Group.
Other hotels in the portfolio are: Four Points by Sheraton and the Adina Apartment Hotel in Auckland, QT Auckland, Rydges Wellington, BreakFree Hotel in Christchurch, and the Sofitel in Queenstown. The Russell Property Group manages the portfolio on behalf of the partnership.
Russell Group managing director Brett Russell says that Holiday Inn’s contract to operate the hotel had come to the end of its term in February 2021, but that a market process to establish a new operating contract had been delayed to manage the height of the COVID-19 pandemic. Holiday Inn’s existing contract had been renewed on a temporary basis to cover this period.
In recent months, Russell Property Group has conducted an RFP to establish a new contract to operate the hotel. Hotel operator EVENT Hospitality and Entertainment, who operate Rydges, QT and Atura Hotels, and JUCY Snooze, has been successful and would operate the property as a Rydges hotel from July, 2022.
Mr Russell said that the partnership was grateful for Holiday Inn’s successful operation over many years, and for participating in what was a very competitive RFP process.
“We were fortunate to have a number of excellent operators seeking to operate this property, and while we have decided to make a change, we are confident this will be a positive step for the hotel” said Mr Russell.
“We are working with all parties to ensure a smooth transition, including our desire to retain all our current staff at the hotel,” he said. “Our partners at EVENT are experienced hotel operators with a proven track record as our operating partners at QT Auckland and Rydges Wellington, and we are confident that the transition can occur without disruption to operations, and without interruption to an attractive offering for visitors to Rotorua and users of the hotel.”
NZ Super Fund Direct Investment Manager Hishaam Mirza says the establishment of a new operating contract for its Rotorua hotel offered exciting opportunities for the domestic tourism sector.
“This property remains a vital piece of tourism infrastructure, especially now with international tourism returning to New Zealand. We are confident the new operator will fit well with not only this operation, but across the high-quality regional assets in this portfolio,” he said.
Further details about the new hotel would be shared by the new operator as the transition process progressed, he said, including planned upgrades to the property.
