- BCI Sector Snapshot: Hospitality in New Zealand
BCI Sector Snapshot: Hospitality in New Zealand
Download your free copy of the Sector Snapshot: Hospitality
New Zealand’s hospitality sector took a hit following the COVID outbreak; restrictions disrupted tourism activity and, inevitably, created revenue volatility across the industry. Now, with the return of international visitors, the market is regaining its momentum.
As of May 2023, BCI reported on just over 180 active hospitality projects in New Zealand, valued at 3.14 billion NZD. When we breakdown the nation’s figures by construction stage, the majority of projects (70.11%) are currently at the Design & Documentation stage.
Of these hotels, motels, caravan parks, resorts and serviced apartments, almost 50% can be found in the Southern Region with a total project value of approximately 915.95 million NZD. However, more than double the value of these southern projects can be found in the Northern Region, with 75 projects valued at an approximate 2.07 billion NZD. The Bay of Plenty and Waikato regions are seeing the most activity with the highest volume of hospitality projects.
Nine different companies feature in our Key Market Players section, where we’ve ranked the top three developers, architects and builders based on total construction project value (as reported by BCI Central over the past 12 months). Precinct Properties New Zealand Ltd – Auckland, Warren & Mahoney – Auckland, and LT McGuinness Ltd – Auckland ranked as the number one developer, architect and builder respectively.
For further details, download your copy of the BCI Sector Snapshot: Hospitality
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