Private hotel portfolio for sale
Mon, 09 Jul 2012 11:23a.m.
A large family-owned hotel and motel property chain, comprising six properties in Auckland, Wellington and Rotorua has gone on the market with a valuation of about $40 million.
The SilverOaks Group portfolio owned by the family of Auckland-based businessman Dennis Wilson is the second-largest privately owned motel and hotel chain in New Zealand, says agent Bayleys.
"The family has been in the hospitality and accommodation industry for some 40 years but are selling up to retire," Bayleys said.
The portfolio includes the SilverOaks Geyserland in Rotorua, which is a 68-room property overlooking the Whakarewarewa Thermal Valley operating under the Quality Hotel brand.
It also includes the SilverOaks Resort Heritage and the Gwendoline Court Motel in Rotorua, the Oakwood Manor Motor Inn and the SilverOaks Inn Silver Point in Auckland, and the SilverOaks Hotel in Wellington, which is close to the botanical gardens.
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