Crafar Farms' Chinese owner buys Hilton resort in Queenstown
The Chinese billionaire behind the Crafar farms purchase and the Shanghai Pengxin Group has been revealed as the new owner of the Hilton complex at Kawarau, Queenstown.
Although ownership changed on May 1, Shanghai Pengxin president Jiang Zhaobai only made his purchase public this week with a 50-strong delegation arriving in the southern resort town from China.
Mr Jiang is also awaiting confirmation to settle the Lochinver Station deal in the central North Island, which was a major issue in the election campaign.
The Hilton project is located overlooking the Kawarau River outlet at Frankton.
Only a third of the resort is completed and it was announced earlier this month that it would be managed under Hilton’s DoubleTree brand.
The 98 guest rooms feature fully-fitted kitchenettes and adjoining lounge areas. Many rooms also offer views of Lake Wakatipu across to Frankton and Queenstown Airport.