After two decades of ownership, hospitality operator Williams Hotels is selling its popular Ashley Hotel in Greymouth on the West Coast.
They are only the second owners in the long life of the complex, which is set on 7,556sq m, including a 1,254sq m block of vacant land.
Philip Cooper, Investment Sales Broker at Colliers Christchurch, is marketing the freehold going concern for sale and is taking expressions of interest, closing 29 June.
Located at 72-26 Tasman Street, the Ashley Hotel is one of Greymouth’s premium accommodation offerings. It has a total of 60 rooms, comprising a 37-room hotel, 23 motel rooms, a bar, restaurant, and swimming pool, together with a manager’s apartment.
Start your property search
“The Ashley Hotel has been a significant and successful long-term operation, and has continued to trade extremely well after Covid,” Cooper says.
“Its market is largely split among corporate visitors and international tourists with the domestic market making up a smaller percentage, although Kiwis certainly made a beeline for the West Coast when our borders were closed.”
Cooper says the current owners bought the Ashley Hotel in 2001 and have invested significantly in regular refurbishments to ensure the complex is immaculate.
“They’re only the second owners in the Ashley’s history – the first had it for 35 years. These long tenures underscore the calibre of this investment, which has stood the test of time and continues to enjoy strong forward bookings.
“The Ashley Hotel’s comprehensive conference facilities ensure the corporate market is always a strong performer.”
Cooper says the vacant land, located on the southern end of the hotel site, is ideal for future development.
Greymouth is a 240km drive from Christchurch with the Ashley Hotel adjacent to the local airport and five minutes’ drive from the town centre. It is the West Coast terminus for the well-known TranzAlpine railways, providing a strong tourism link between the East and West Coasts.
The town has reaped the benefits of the popular West Coast Wilderness Trail cycling trail, and a variety of walking tracks.
Regional economic figures from Infometrics show the West Coast’s GDP grew 6.9 per cent last year. In 2022, total visitor spending in Greymouth continued to increase, a trend maintained in the first three months of this year. The retail and accommodation sectors benefitted most from the spending.
The town will further benefit from the Pounamu Pathway, a collaboration between Te Rūnanga o Ngāti Waewae, Te Rūnanga O Makaawhio, and Development West Coast.
Te Ara Pounamu Limited will deliver the Pounamu Pathway of four new tourism hubs located in Westport, Greymouth, Haast, and Hokitika.
The Māwhera hub in Greymouth, now under construction, is the first of the tourism hubs. Situated in the heart of the Greymouth commercial district, on Tainui Street, the hub will have a strong connection with local retail and hospitality businesses and is only a short distance from the Grey River.
- Article supplied by Colliers
