AUCKLAND HOTEL
Plans Not To Be Shelved
(N.Z Pre.. Association! AUCKLAND, March 9
The managing-director of Stanhill Consolidated. Ltd., Mr I. K. Redpath, said today that a change in the agreement between the Chevron and Hilton Hotel groups in Australia would not affect the construction of the proposed 23-storey tourist hotel for Auckland.
Mr Redpath. speaking bv radio telephone from Melbourne. was asked by the
‘•New Zealand Herald” to comment on the effects of the changed agreement on the Auckland hotel plan. Mr Redpath said that the alteration in the agreement referred only to the equity participation and direct management by Hilton.
Under an “agreement in principle" last year the Hilton group was committed to supply not less than 15 per cent, of the share capital of each new hotel project undertaken when it went to issue.
“The Hilton group has not put any money in to any of the combined group’s hotels in Australia.” said Mr Redpath. “However that does not mean that the hotels heror in New Zealand, especially in Auckland, will not continue."
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Bibliographic details
Press, Volume C, Issue 29459, 10 March 1961, Page 18
Word Count
176AUCKLAND HOTEL Press, Volume C, Issue 29459, 10 March 1961, Page 18
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