Loan guarantee for Queenstown hotel

Press, Volume CXII, Issue 33062, 1 November 1972, Page 18

Loan guarantee for Queenstown hotel

(New Zealand Press Association)

DUNEDIN.

The Government would provide loan guarantee assistance for the new 280-bed Travelodge hotel planned for Queenstown, said the member of Parliament for Otago Central, Mr J. M. Rose.

The Government had also indicated that it would give “favourable consideration” to making the same assistance available for the proposed 250-bed hotel of Southern Lakes Hotel, Ltd, on former reserve land near the Queenstown waterfront, said Mr Rose.

side of Queenstown overlooking the Eamslaw wharf. “Because of the pressing need for more first-class accommodation in Queenstown, the assistance is conditional on work starting on the hotel within a short time,” Mr Rose said. MORE SOON Although the addition of the Travelodge Hotel to Queenstown’s accommodation would meet the area’s immediate needs for extra first-class rooms, the growing demand from an increasing number of New Zealand visitors was such that more accommodation will be required soon. “Because of this, the Government has indicated that it will give favourable consideration to providing similar assistance to the proposed 125-room hotel to be built for Southern Lakes Hotel, Ltd, conditional to its starting at an appropriate time and after certain legal and other matters have been resolved. ... "These developments will bring the standard of facilities at Queenstown into line with other resort areas, and because of the importance of Queenstown to New Zealand’s over-all tourist pattern, will give a great boost to the tourist industry as a whole, Mr Rose said.

The Minister of Tourism (Mr Walker) had said that the Cabinet had approved loan guarantee assistance for the hotel planned by Travelodge (N.Z.), Ltd, on the western