Keenan said the resort had been on the market with another company last year but it was now in Bayleys\u2019 hands.<\/p>\n
\u201cWe are hoping to bring international buyers into the market.\u201d<\/p>\n
He said there was potential to add to the property, such as utilising space to build premium eco-villas, expanding and upgrading the conference hub or enhancing the spa facilities to capture the wellness tourism market.<\/p>\n
The resort dates back to the 1920s and was part of Rotorua\u2019s Redwood Estate.<\/p>\n
It was redeveloped and renamed the Wai Ora Lakeside Spa Resort and opened in 2008 under a company connected to Rotorua-based couple Lisa and Bryan Hughes<\/a>.<\/p>\n The official opening in October<\/a> of that year was attended by then-National Party leader John Key, who was elected Prime Minister the following month.<\/p>\n The Hughes\u2019 company, Tatou International, traded as WaiOra Group and at the time also offered cruises to Mokoia Island and owned geothermal tourist attraction Hell\u2019s Gate.<\/p>\n The Hughes sold the resort in 2018 to current owners, Miharo Holding Custodian Ltd, owned by Julong Guo and Zhentao Yuan. <\/p>\n Late last year, Tatou International voluntarily went into solvent liquidation, a formal legal process to wind up a company that is no longer operating.<\/p>\n Wai Ora Lakeside Spa Resort has won many tourism accolades over the years, including recognition in the World Luxury Spa Awards.<\/p>\n The land comprising about 8976sq m, the buildings and business are being offered to buyers via an international tender closing on July 16, unless sold prior.<\/p>\n Keenan said the resort\u2019s year-round operating performance aligned well with Tourism New Zealand\u2019s strategy to spread demand across the calendar to generate more business in off-peak months.<\/p>\n He said the tourism market was growing to pre-pandemic levels of international travel.<\/p>\n Visitors spent $898 million in Rotorua in the year to March, up 8.7% on the prior year, according to Ministry of Business, Innovation and Employment estimates. International tourism to the city was up 21.8%. <\/p>\n Nationally, total visitor spending grew 11.5%.<\/p>\n The NZ Herald reported this week that luxury travel has surged in New Zealand<\/a>, which experts said followed an international trend towards higher-value experiences.<\/p>\n Grand View Research data found New Zealand\u2019s luxury travel market generated more than $8 billion in revenue last year, and this could more than double by 2033.<\/p>\n The resort is not the first large Rotorua tourism property to hit the market this year \u2013 the Copthorne Hotel on Fenton St<\/a> is also for sale.<\/p>\n