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Tracing New Zealand’s Largest Hotel Owners In Fiji

Tracing New Zealand’s Largest Hotel Owners In Fiji
https://www.accorhotels.com/6990
April 01
12:17 2018

The biggest name in New Zea­land‘s hotel groups is begin­ning to increase its presence as a resort and hotel property own­er in Fiji.

The C.P Group, trading under Pan­dey Investments (Fiji) Limited, pres­ently owns 100 per cent of Novotel Resort Suva Lami Bay and is devel­oping an $80 million hotel in Momi Bay, near Nadi.

The group also owns 50 per cent of Novotel and Mecure hotels in Nadi, in a partnership with the Tappoo Group.

The Momi Bay development has al­ready begun. It will be constructed on the former site of the Sea Shell Cove Resort.

C.P. Group, owned by one of New Zealand’s wealthiest families – the Pandey family – is a multi-level, global diversified property develop­ment and investment corporation.

 

Since its inception in New Zea­land in 1993, the Group has experi­enced remarkable growth and has amassed a considerable strategic property portfolio across New Zea­land, Australia, Singapore, Malay­sia, Finland, the United States and now in Fiji.

The Group, a long standing New Zealand hotel owner, with 17 hotels, heads the list of top 10 hotel owners there, equating to a market share of eight per cent.

This is according to a J.L.L Hotels and Hospitality Group research and analysis of all of New Zealand’s major hotel owners.

The group has worked closely in New Zealand with the French Accor Group, managing and operating C.P group properties under brands such as Sofitel, Novotel, So Sofitel, Ibis and Mercure.

New Zealand’s top 10 owners ac­counted for 38 per cent of J.L.L Ho­tels and Hospitality’s database.

The C.P Group has been active in developing and buying hotels with notable acquisitions of Ibis Wel­lington in March 2016, Novotel Wel­lington in 2015 and the combined Novotel and Ibis Auckland Ellerslie Hotels, the same year.

The C.P Group also completed the $51 million development of Sofitel Wellington.

It also undertook a conversion of the former Reserve Bank building in Auckland to an Accor Hotel branded So Sofitel (133 rooms) which was completed last year.

A 30 storey, 252 room hotel has been proposed to be built alongside So Sofitel.

The Group has become one of Aus­tralia’s major owners with a hotel portfolio of more than 2500 rooms, valued in excess of $700m, in addi­tion to numerous other commercial

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