CBRE New Zealand has transitioned hotels expert Peter Hamilton into a new agency role as Director of Capital Markets Hotels.
The move increases the company’s focus on hotel investment sales as demand drivers strengthen across key markets, and domestic and offshore capital increases its focus on New Zealand as an investment safe haven.
Hamilton moves to the Capital Markets team from CBRE’s Valuation & Advisory Services business. He will now work full time on hotel market transactions, following a run of major deals he has already been instrumental in negotiating.
These include the sales of 47-49 Shotover Street in Queenstown, the QT Auckland, Rydges Wellington and Sofitel Queenstown, which total around $320 million in value.
Start your property search
Andrew Stringer, Senior Managing Director of CBRE New Zealand, said Hamilton’s move reflects both his experience in hotel transactions and the opportunity CBRE sees in the sector.
“Peter has built his reputation as a leader in the hotels sector through many years of valuation and advisory work, earning the trust of owners, investors and lenders.
"We have actively supported Peter’s progression into this dedicated agency role, which aligns closely with his deep sector knowledge and relationships.
"Since beginning the transition around 12 months ago, it has already resulted in several notable hotel transactions. His work with our Pacific Hotels team on these successful transactions underlines both the strength of our Australasian hotels capability and the deliberate investment by CBRE into our hotels business and the people leading it.”
Michael Simpson, Managing Director of CBRE Hotels Australia & New Zealand, said the move reinforces the connected platform across the two countries.
“Within the Asia-Pacific hotels market we have many active investor groups seeking to invest in New Zealand to either gain or increase exposure to this important market.
"Peter’s move into a full-time capital markets role strengthens our New Zealand execution capability and enhances how we bring the Australia and New Zealand businesses together for our clients’ benefit.
"Peter combines market-leading knowledge of the financial drivers of hotels across the country, together with a proven ability to initiate and close investment sales transactions.”
Alongside Hamilton’s move, CBRE has appointed Chris Bennett as Director, Hotels Valuation & Advisory Services, based in Auckland.
Bennett joins from Colliers, where he specialised in hotel and tourism assets across New Zealand and the South Pacific. He has more than 20 years’ experience in commercial and hotel property roles in New Zealand and the United Kingdom.
Campbell Stewart, Managing Director of CBRE Valuation & Advisory Services, said Bennett’s appointment strengthens the company’s capabilities in a key sector.
“Chris is widely recognised for his hotel valuation expertise and his understanding of tourism and hospitality assets across New Zealand and the Pacific.
"He is known as one of New Zealand’s leading hotel valuers, with deep market knowledge and a strong reputation in the sector. Bringing someone of his calibre into the team ensures continuity for our clients and reflects the depth of talent across our valuation business, alongside Peter’s move into agency to focus on transactions.”
CBRE’s latest New Zealand Real Estate Market Outlook points to improving conditions for hotel occupancy, with expectations of average daily room rate (ADR) growth as stronger forward bookings flow into the market.
The supply pipeline of new hotel developments is relatively muted across all markets, which will also provide a stronger base for ADR improvements.
Meanwhile Auckland’s expanding events pipeline is poised to structurally reshape hotel demand, making the sector more resilient with less seasonality in demand and improving overall hotel income.
New government funding initiatives, the opening of New Zealand International Convention Centre and continued growth in international arrivals are also supportive of a positive outlook for the sector.
- Supplied by CBRE
