$20M for hotels

Press, 27 May 1981, Page 29

$20M for hotels

The conditional sale of the Trans Holdings division hotels by U.E.B. Industries, Ltd, to the Bateman Catering Organisation is understood to be just on $2O million. Applications have been filed under the Sale of Liquor Act for transfer of tourist housekeeper's licences for three of the 12 hotels in the deal to Bateman Catering.

They are the White Heron in Auckland. Four Canoes in Rotorua and the Sherwood Motor Inn in Palmerston North. The hotels concerned in the proposed sales, with the price tags on them in the published listings of Dalgety Real Estate, are:—

Bay of Islands Lodge (freehold), $640,000; White Heron, Chateau Regency ♦Christchurch). Lakeland

(Queenstown) and Luxmore (Te Anau), all freehold, $l7 million; Four Canoes Inn (Rotorua), leasehold (chattels and goodwill), $280,000.

Sherwood Motor Inn (Palmerston North), leasehold, $500,000; Whalers Inn (Picton), leasehold, $200,000; Canterbury Inn (Christchurch), leasehold, $120,000. Stagecoach Inn (Omarama), leasehold, $450,000: Country Inn (Queenstown), 'freehold, $950,000; Pembroke (Wanawa), leasehold, $40,000. Also up for sale are the three Fiji freehold hotels — Westgate (Nandi), $F1,012.000: Paradise Resort (Coral Coast), $F2,352,000 and Man Friday (Coral Coast), $F991,000.