Kawarau Falls Hotel Operator to be NamedA single unknown entity will take control of stage one of the beleaguered Kawarau Falls resort development, to operate its two hotels and apartments which will not open until early next year. This update from Queenstown Mayor Clive Geddes at a council meeting this week. KordaMentha receivers spokesman Grant Graham had earlier told The Southland Times it was in “the final throes” of securing a deal and he was heading to Australia soon to sort out the final details. Mayor Geddes, in his report to council, said the “enormous”commitment of the Bank of Scotland, as major investors of the project, ensured cost overruns of possibly hundreds of millions of dollars were met on the 460-room development. However, KordaMentha was extremely concerned about the state of neighbouring stage two and three properties, Mr Geddes said. “They are working hard to try to mitigate the effects of those properties, which make it look like the development borders a rock quarry.” Landscaping was the obvious answer to solving the problem, and KordaMentha were focused on achieving this as an outcome, Mr Geddes said. The company behind stages two and three of the development, Peninsula Road was placed into receivership in March. Peninsula Road is owned by former rich-lister and developer of Auckland's troubled Westin hotel, Nigel McKenna.
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