The company behind a planned $18 million hotel on the shores of Lake Rotorua has not been able to get hold of the new land owners - more than six months after the land changed hands.
But international hotel chain Wyndham Hotel Group has said it will keep looking for new opportunities in Rotorua and the surrounding area.
The chain announced plans for the new hotel in September 2014 and it was expected to open last December. However work never got started on the development.
The major development at the lake end of Whittaker Rd was expected to include a mix of 68 hotel rooms and one and two-bedroom apartments as well as a geothermal health spa, onsite restaurant and bar, swimming pools and conference facilities.
During construction as many as 100 people were expected to work on the project with 10 new jobs once operational.
However, a Wyndham Hotel Group spokesman told the Rotorua Daily Post the company was aware the 1.8ha land for the Ramada Lakeside Resort and Spa had been sold and despite their best efforts they had been unable to present their ideas to the new Chinese owners who bought the land from Safari Group.
• Site earmarked for hotel sold
"The project in question was in its early stages and we respect the possibility that the new owners may wish to take a new direction.
"However, considering the well-publicised tourism boom and anticipated shortage of hotel rooms in New Zealand, we are always looking for new opportunities in Rotorua and the surrounding region."
Meanwhile, a controversial hotel planned for nearby Bennetts Rd is expected to go to a hearing soon.
The proposed hotel is a multi-million dollar, four star hotel which developers said would bring about 30 jobs and attract tourists. However many residents were unhappy about the proposal, with more than 120 submissions in opposition to the development.
Rotorua Lakes Council is reviewing additional information which was requested about the project ahead of the hearing, and has said the hearing would be scheduled as soon as possible.
The proposed hotel, on empty land on Bennetts Rd, would have 100 rooms and include a swimming pool, restaurant and tennis courts as part of the development.
However Koutu residents fear the hotel, which is planned for a residential area, sets a precedent around commercial buildings in neighbourhoods.