US magnate plans luxury NZ lodge
Monday 23 February 2004
QUEENSTOWN - A former hotelier and casino-owner in the US is planning an exclusive luxury lodge at Gibbston Valley, complete with a salmon-stocked pond for anglers.
By The LandlordPhil Griffith, who has a substantial stake in Queenstown's Wharf Casino and the award-winning Gibbston Valley Winery, will fly high-profile US architects from New Orleans next month to look at the site.
The lodge will be established on former Glenroy Station land 27km east of Queenstown.
Griffith, who has sold his five casinos in Las Vegas, Reno (Nevada), Colorado and Mississippi and his 35-storey Las Vegas hotel, paid well over $1 million for the site.
"It'll be very upscale accommodation with its own chef, a very expensive wine cellar of New Zealand wines - it'll be in the $1000-a-night range plus to stay there," said Mike Stone, a business partner of Griffith.
Read More - Opens in a new window
Commenting is closed
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.