Mortgage interests over Queenstown's luxury Hilton Hotel have been sold in an $80.5 million deal involving Chinese businesses.
The Overseas Investment Office gave consent for the transaction in the assets of the hotel, set into a sloping site at Kawarau Falls near the alpine retreat's airport.
Details of the decision approved on February 10 were released yesterday.
"This is a retrospective application which relates to the applicant's acquisition of interests in various mortgages secured over the Kawarau Falls development which includes the Queenstown Hilton. The owners of the property are currently in receivership," the office said. China's Hongsheng Tao can sell the assets to New Wish Investment, jointly owned by Rose and Zhaobai Jiang of China.
Jobs, increased export receipts, additional investment for development purposes and walking assets were benefits cited for New Zealand.