New owners for The Rees
The Rees Hotel Queenstown is to be the centrepiece of a strategy to develop a chain of boutique hotels showcasing an authentic New Zealand experience. From the 12th of October 2018 The Rees Management Ltd (TRML), the manager of The Rees Hotel Queenstown, New Zealand, was sold to interests associated with Pioneer Capital and current TRML board members, Mark Rose and Bruce Davidson. Pioneer was attracted to the leadership, established culture and management of The Rees Hotel Queenstown and plans to leverage these assets as the key ingredients in their development strategy.
Pioneer Capital is a New Zealand investment firm focused on investing in high value export led businesses. The management sale and development plan will enable growth and future security of supply of guest numbers for The Rees Hotel, carefully targeted at the high-end international tourism market. TRML will continue to be the manager of The Rees Hotel and the entire management team and all staff will be retained. Mark Rose will continue as the CEO and the Board of Directors will comprise Bruce Davidson (Chairman), Mike Pohio (Independent Director), Randal Barrett and Shayne Shepherd (Pioneer) and Mark Rose.
Mr Rose says, “We are excited to implement this strategic move which has been in the planning for some time. We aim to become a boutique New Zealand hotel company with around five hotels on the tourist route each reflecting their unique ‘place’, with the same culture and high touch service that we are proud to offer at The Rees Hotel Queenstown.”
Mr Barrett commented, “Mark and his team have built an exceptional tourism offering in The Rees, and we are delighted to be partnering with them as they expand the product to address increasing inbound demand.”
The Rees Hotel Queenstown opened in 2009, comprises 60 hotel rooms, 90 apartments and five Lakeside Residences and is located on the shores of Lake Wakatipu with spectacular views over the lake to the Remarkables mountains. The independent, stylish, luxury property has consistently been internationally recognized and awarded for excellence including receiving New Zealand Tourism’s top Qualmark 5 Star Hotel & Gold Business Tourism Sustainability Award in 2018 and ‘Best NZ Hotel’ two year’s running (2017 /18), in the Australasian Hotel Management Awards of Excellence. Along with awards for service, for its fine dining restaurant True South, executive chef Ben Batterbury and for its wine list, the hotel is also a leader in community service and sustainability initiatives, constantly striving to maintain and further develop the high standards it has set in the New Zealand hospitality industry.
The management share sale and resulting development plan will be a very exciting opportunity for all parties and will provide benefits for apartment owners, management and staff and provide certainty of ownership and supply of capital.
An investor in private New Zealand businesses that are focused on growth in large international markets. Pioneer Capital has a track record of partnering with owners and managers to build value in their businesses. Fundamental to their investment focus is the capability of management and the size and nature of target markets. Their team has a breadth of skills and experience in operating, investing in and guiding businesses through all stages of growth and in large international markets. They are New Zealand owned and operated and are committed to investing in a responsible manner.