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The New Zealand Open will celebrate 100 years of existence at the Hills Golf Club, near Queenstown, in November.
It is among a number of significant changes to the event announced by New Zealand Golf (NZG) today.
As a result of the new venue and promoter, NZG confirmed that the Open would not carry any financial risk to the organisation.
It has reached agreement with Tuohy Associates NZ, an established Australian promoter, to assume responsibility for the management of the tournament.
The Open, at New Zealand businessman Michael Hill's private course, will remain a co-sanctioned event with the Australasian PGA Tour and European Tour and be staged from November 29-December 2, following the co-sanctioned MasterCard Masters in Melbourne.
NZG has secured the support of the 2005 US Open champion Michael Campbell, who will become the official Open ambassador.
The Open will be staged at The Hills for three years.
"I am really pleased with the plans that have been put in place for the New Zealand Open and the direction it is taking," Campbell said in a statement.
"I said at last year's Open that I wanted to help this event going forward.
"So I have pledged my support to the New Zealand Open, firstly as a player and also as a proud New Zealander. I am going to be speaking with a number of players to encourage them to compete in the Open.
"With the Remarkables as the backdrop to this course, there will be some wonderful television pictures beamed around the world."
Campbell visited The Hills course recently.
NZG chairman Philip Hassall said the Open remained strategically important for NZG but it should not impact financially on the organisation.
The Open, staged at Gulf Harbour last year, lost almost $700,000.
This year will be the first time the event has been staged in the South Island since 1985.
"Our aim is to rebuild and restore the Open and then look at a rotation system from 2010," Hassall said.
"We believe that three years is fair for The Hills to get value out of the infrastructural investment that they need to make to host the Open."
The Australasian PGA Tour, the joint venture partners in the New Zealand Open, have endorsed the developments.
The Hills has received strong commendation from four-time New Zealand Open champion Sir Bob Charles.
Hill is excited by NZG's decision.
"Queenstown has a reputation both in New Zealand and internationally as the country's leading tourist resort and I feel very honoured to live here and have the opportunity to host a golf tournament of this calibre which will showcase the region and its attractions around the world," he said.
- NZPA
