Receivers were appointed to Tourist Hotel Corporation (THC) Ltd, and four linked companies, last week under the powers of a security deed.
Steven Khov and Kieran Jones, of Khov Jones Ltd, have been appointed as joint and several receivers of the companies by Rockburgh Trustees (No.15) Ltd.
The company’s three projects — Park Inn By Radisson, Radisson Blu and Wyndham Garden — were described as a “spectacular luxury lakefront experience” on its website.
It aimed to be at or near the top of the market in terms of location, quality and service, “but number one in terms of memories and experience”.
Park Inn Radisson, a proposed four-star hotel, offered 112 guest rooms in a subdivision south of Tekapo Village.
Radisson Blu Resorts, a five-star resort containing a total of 237 suites in buildings of up to four-storeys, featured north-facing views of the Mackenzie Basin mountains.
Wyndham Garden, a two-storey residential resort, boasted 60 single and two-bedroom/two-bathroom apartments measuring between 50sqm and 85sqm each.
THC had been calling for wholesale investors prior to entering receivership, in each of the specific projects or in the whole three-build portfolio.
Apartments in Wyndham Garden were being sold on an individual basis, in some cases ranging from $600,000 to $1million, with initial earthworks being conducted on the site from 2022.
THC Group director Ken Harris — who has about 40 years’ experience in the hotel industry — was among seven consultants linked to Tekapo businessman Anthony Tosswill, who in 2017 pitched a proposal to the Dunedin City Council for a 17-storey five-star hotel and apartment tower to be erected in Moray Pl.
This proposal was rejected that same year.
