Resort Brokers was founded by Wayne Keene and Gordon McGregor in 2002 to provide a specialised service to both owners and investors of tourism related properties and businesses. Gordon and Wayne headed up hotel sales for two multinational real estate companies and were brought together by way of a joint agency when instructed to sell the remains of the Manor Inn chain. This sparked a friendship and combined forces in one company for a short time before grasping onto the opportunity to go it alone.
Thus, Resort Brokers was formed and 13 years later has emerged as the leading brokerage in the country. Having had experience in the sale of major international hotels and chains right down to modest motel leases the newly formed company became an immediate success. Since then the company has grown to 13, 12 of who are successful brokers spread across the country for geographic presence.
The sales team has vast and unmatched experience that assists vendors and purchasers alike into making informed decisions with mutually beneficial outcomes.
The formula of nationwide cover, experienced and competent brokers, excellent computer and Internet solutions, and newspaper profile ensures that Resort Brokers sell more accommodation business/properties than any other company in New Zealand. In recent years Resort Brokers have sold over one a week on average and the numbers don’t seem to be diminishing.
Keene said that the company operates in a niche market almost exclusively selling motels, hotels and management rights, mostly to Kiwis looking for semi retirement or returning from overseas. However, a significant proportion of sales in more recent years have been to new immigrants from Europe, South Africa and various parts of Asia. “The attraction of motels and management rights seems to be that unlike other forms of business you actually get a house to live in as part of the premises, you are generally in fantastic locations where people want to be and the skill set required to run them has not out of the reach for most people.
These businesses suit people nearing retirement who want a financial boost to make their golden years more pleasant. They simply sell their house and use the equity to by and business and almost invariably earn considerably more that their previously combined income.
However, some of the most successful new entrants to the industry have come from younger quarters where they may have advanced computer, sales and marketing skills,” Keene said. “There is no doubt that lower interest rates and active bank lending policies when coupled with increased demand have been driving sales to record levels over the last few years.
So we are currently enjoying a wonderful market with good equilibrium between sellers and buyers, supported by strong and growing market conditions, and funded by major banks who must believe in the future of the industry.”
Motels, hotels and management rights are high profile and are an important part of New Zealand’s tourism industry, which the Government markets heavily offshore attracting increased tourism numbers year on year.
“We have prepared three manuals to provide participants with information on buying, running and selling their businesses. We couple this with considerable research into interesting aspects affecting the industry so that the market is kept fully informed,” Keene said. Recent interesting sales include the Hotel DeBrett in Auckland, which transacted late last year and sold to a person who owns an exclusive lodge elsewhere in the North Island.
The hotel is a wonderful example of what can be done by refurbishing and remodelling older premises to retain the character and keep the guests interested. The vendor of this hotel had magnificent flare and the decoration and fit-out is unique.
“Outside our normal realm we were instructed to sell the very successful Mercury Bay Estate winery and cellar door in Cooks Beach, Coromandel and this sale took place in January 2016.
We found this to be a wonderful learning experience and look forward to getting a similar brief in the near term. We currently have one property under contract for $20-odd million for a hotel group and have a history of transacting in the middle and upper portions of the market. We will be able to announce more on this and one other similar transaction in the coming months as due diligence is completed.”
