Coffeys Tourism Property Brokers continue to grow their presence in the market for the sale of accommodation based properties, with the addition of four new brokers throughout New Zealand.
With the recent retirement of two senior brokers, principal Kelvyn Coffey said the challenge has always been to find the right people for the role. “We have found that the greatest constraint to growth for our business has been finding that rare individual who has real estate qualifications as well as some background and knowledge of tourism and hospitality. So we are indeed fortunate to have achieved that in recent times,” he said.
Coffey said New Zealand is well covered with the current team now including Stefan McNeely in Tauranga, Matt D’Anvers in Pauanui, Adam Berry in Christchurch and Fiona McDonald based in Queenstown. This takes Coffeys to a total of eight brokers, four in each of the North and South Islands.
Coffey said that the accommodation industry is poised for some good revenue growth in years to come. “Everything goes in cycles it seems, and we are well due for the upward leg. With surging growth in visitor numbers and guest nights generally, this may put some real pressure on the existing room supply, resulting in tariff increases across the board.
The supply equation is likely to remain constrained due to very high building costs, which seriously challenge the viability of new developments at current room rates.” Coffeys has specialised in this niche of the real estate market since 1984, originally in the South island, having progressed to nationwide in 2010.