Fiji Sun, April 1 – The biggest name in New Zealand‘s hotel groups is beginning to increase its presence as a resort and hotel property owner in Fiji.
The C.P Group, trading under Pandey Investments (Fiji) Limited, presently owns 100 per cent of Novotel Resort Suva Lami Bay and is developing an $80 million hotel in Momi Bay, near Nadi.
The group also owns 50 per cent of Novotel and Mecure hotels in Nadi, in a partnership with the Tappoo Group.
The Momi Bay development has already begun. It will be constructed on the former site of the Sea Shell Cove Resort.
C.P. Group, owned by one of New Zealand’s wealthiest families – the Pandey family – is a multi-level, global diversified property development and investment corporation.
Since its inception in New Zealand in 1993, the Group has experienced remarkable growth and has amassed a considerable strategic property portfolio across New Zealand, Australia, Singapore, Malaysia, Finland, the United States and now in Fiji.
The Group, a long standing New Zealand hotel owner, with 17 hotels, heads the list of top 10 hotel owners there, equating to a market share of eight per cent.
This is according to a J.L.L Hotels and Hospitality Group research and analysis of all of New Zealand’s major hotel owners.
The group has worked closely in New Zealand with the French Accor Group, managing and operating C.P group properties under brands such as Sofitel, Novotel, So Sofitel, Ibis and Mercure.
New Zealand’s top 10 owners accounted for 38 per cent of J.L.L Hotels and Hospitality’s database.
The C.P Group has been active in developing and buying hotels with notable acquisitions of Ibis Wellington in March 2016, Novotel Wellington in 2015 and the combined Novotel and Ibis Auckland Ellerslie Hotels, the same year.
The C.P Group also completed the $51 million development of Sofitel Wellington.
It also undertook a conversion of the former Reserve Bank building in Auckland to an Accor Hotel branded So Sofitel (133 rooms) which was completed last year.
A 30 storey, 252 room hotel has been proposed to be built alongside So Sofitel.
The Group has become one of Australia’s major owners with a hotel portfolio of more than 2500 rooms, valued in excess of $700m.
