Hospitality industry set for 'good times'

Hospitality bosses say the sector is set to benefit from the America's Cup win. Photo / 123RF

New Zealand's hospitality industry is set for "good times ahead" following the America's Cup win according to industry bosses.

The 2000 and 2003 America's Cup events which were held in Auckland brought in $115 million and $92m respectively in both hospitality and accommodation according to the Government.

Hospitality NZ Auckland president Russell Gray said the country was well and truly on the international stage with events such as the America's Cup continuing to boost overseas interest in New Zealand.

"I think the hospitality industry is looking forward to some pretty good times ahead," Gray said.

"This is probably the step change that we were looking for in terms of providing that significant stimulus for a whole lot of new development," he said.

"Whether that's an expanded waterfront, a new multi-purpose stadium with syndicates based all round it who knows. There's lots of exciting opportunities on the table as a result of this."

Restaurant Association chief executive Marisa Bidois said such international events also had a flow-on effect across the country, saying she expected this would also happen if New Zealand hosted the next Cup.

"It generates jobs, it's great for the economy and it's excellent news for our industry in particular," Bidois said.

"Our businesses were pumping during both of the Cups [in 2000 and 2003] and there's also that ripple effect that happens throughout the country, so although it had been held in Auckland, it is good for the whole country," she said. "it's good news all round.

Auckland Tourism, Events and Economic Development chief executive Brett O'Riley has already estimated the total benefit could top $1 billion if New Zealand hosted the next event.

Boat-building and servicing, tourism, accommodation, waterfront development, overseas visitors and hospitality and retail were all likely to benefit.

Bidois said the win was likely to boost development in Auckland in particular with part of the waterfront being created to host the America's Cup previously.

"The Viaduct area was created because of the America's Cup and that's just kept on giving to Auckland's economy and the cityscape," Bidois said.

"So there's been so many good things that have come from this event. We're super excited about it and that's not even mentioning the figures that the visitors deliver to the economy and our industry."