Micro-accommodation provider Jucy Snooze Ltd (Tim & Chris Alpe) has signed a joint venture with a Los Angeles-based hotel developer to operate a Jucy Snooze hotel with over 220 pods under the Stay Open brand in San Diego.
Augusta Capital Ltd announced last Monday it had entered into an unconditional agreement to acquire land in the Queenstown cbd for a 5-star hotel development, and on Friday it confirmed settlement.
Mulpha Australia Ltd has bought the leasehold 4.5 star Waldorf Stadium Apartment Hotel at Quay Park in Auckland.
NZX-listed property fund manager Augusta Capital Ltd will achieve 2 aims simultaneously when it leases the building at 54 Cook St, on the fringe of the Auckland cbd, to Jucy Snooze Ltd for a pod hotel.
Jucy Snooze Ltd said yesterday it would open a 386-bed pod hotel in central Auckland by the end of next year.
Hotel market analyst Wim Ruepert warned this week that over-construction in Auckland threatened to chop operators’ returns, which were already precarious.