A commercial real-estate agent said New Zealand's hotels are tired and dated, and urgently need to be upgraded to attract more wealthy tourists.
Hotel room Photo: 123rf
Stephen Burt, an Australia-based hotel broker for Colliers International, said hotel operators have stopped investing in their properties here because of poor returns.
He said that a lack of investment had led to a shortage of high-quality hotels.
Mr Burt is urging hotel owners to take advantage of the strong economy and low interest rates to upgrade.