ILT Confirm $40 Million Hotel For Inner City
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The Invercargill Licensing Trust (ILT) announced this morning (April 19), a six to seven-storey $40 million hotel will be built on a 3000 sqm site on the corner of Don and Dee Streets in Invercargill’s City Centre.
ILT general manager Greg Mulvey said the 120-room complex will be built in two stages, with the first stage – consisting of 80-rooms, function/conference facilities, restaurant, bar, cafe and internal-access car parking and the infrastructure needed to accommodate the further 40-rooms, to be built in stage two, when demand required it.
The projected timeline for the build was between 18-24 months.
”We’re reluctant to put a finish date on it because the timeline relies on other parties but what we can says is that we’re starting today,” Mr Mulvey said.
He said the hotel announcement coincided with other developments within Invercargill CBD to rejuvenate the area, including the recent retail strategy announcement to turn Don St into a two-way road.
No-name has been selected for the hotel complex but ILT Board chairman Alan Dennis said they may consider taking the naming idea to the public for consultation.
Mr Mulvey said the $40 million for the build, will come from ILT revenue reserves that have built up over the years and the board were confident it could still service other ILT establishments, including the Kelvin Hotel and Ascot Hotel, with future projects and refurbishments in the near future.