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Hamilton airport operator buys hotel out of messy receivership
Waikato Regional Airport, which operates Hamilton airport, bought the Hamilton Airport Hotel and Conference Centre out of messy receivership for $3 million as it seeks to cut its reliance on regulated transport revenue.
The airport operator, owned by five local councils, announced the purchase on January 31, saying it was in line with the company's goal of expanding non-aeronautical revenue and included a leaseback arrangement with the current operator Hamilton Airport Hotel to run the facility until at least January next year.
"Ownership of the hotel provides an opportunity to further develop and enhance the range of services offered within the airport precinct," chair John Spencer said in a statement.
Read the full article by Paul McBeth > New Zealand Herald - nzherald.co.nz