TIME FOR REFLECTION

Kelvyn Coffey banner.
Kelvyn Coffey, Owner, Coffeys Tourism Property Brokers.

“As we prepare our advertising material for next year’s calendars, our “30 years in business” banner is about to be updated to 35 years for 2019. Where has that time gone?

Having been involved with the sale of accommodation businesses over the decades, we can look back at a number of challenges and some seemingly serious threats that the tourism/accommodation industry has faced in the past. A few come to mind in no particular order, such as; SARS, Bird Flu, Y2K bug, the Gulf War, 9/11 and the ensuing terrorism threats, the Global Financial Crisis, soaring aviation fuel prices, proposed significant travel tax increases, and the carbon footprint disincentive to long-distance air travel. There are probably more.

It seems that all of these threats and challenges have either been met and answered, or turned out to be insignificant, and so the industry continues to prosper and grow. Currently, we face challenges such as the cost to operators of online travel agents and the significant competition from Airbnb providers.  As far as we are aware, the answers to these issues are yet to be fully determined. We sincerely believe though, in light of the history mentioned, that such solutions will be found and expect that the industry will continue to move forward and prosper.

Here at Coffeys, we can certainly attest to the healthy state of the traveller’s accommodation business throughout most of New Zealand. We have enjoyed record sales volumes over the past few years, in lease and freehold. For us to go well, the industry needs to be healthy and profitable. There also needs to be a good stream of enquiry from aspiring operators, keen to join one of New Zealand’s more exciting enterprises. Record tourism growth and, the prospects for it to continue that way, certainly drive the interest in becoming involved in accommodation businesses. This confidence is largely shared by the major lending institutions, who are generally keen to provide the capital required.

We welcome the opportunity to share our industry knowledge with anyone looking for advice, information or first-class brokerage services to the accommodation industry.”

To learn more about Coffeys Tourism Property Brokers call 0800 263 339, email info@coffeys.co.nz or visit www.coffeys.co.nz.

Kelvyn Coffey

Owner

Coffeys Tourism Property Brokers