A stay at the three Robertson lodges starts at $2400 a night and ranges up to $30,000. In a rare gathering, the three sons of founder Julian Robertson were in New Zealand to hand over management to ultra-luxury operator Rosewood from Hong Kong.
Ngahiwi Tomoana remembers the day he met billionaire Julian Robertson, who had just bought The Farm at Cape Kidnappers in Hawke’s Bay.
Tomoana was contacted by his local MP, Rick Barker, in 2001 and told a wealthy family from New York were flying in that day, and wanted to meet him.
“No worries,” said Tomoana, a Ngāti Kahungunu iwi leader. He knew when the Air New Zealand flights arrived.
He soon got the picture of what was in store for his people and the area when he was told Robertson and his wife Josie weren’t arriving on a scheduled turboprop; they were flying in on their private jet and would arrive in 20 minutes.
Robertson – who had amassed a multibillion-dollar fortune investing through his Tiger Fund - and Tomoana discussed plans for the 2500ha property at Cape Kidnappers over a coffee in Napier.
“He said, ‘what would you expect of us to be good citizens and good neighbours?’I said, ‘we’ve got a lot of our people buried here. This is where myth and legend meets modern life and we would like some of the myth and legend places preserved. And he said, ‘done’ just like that.”
Robertson also quickly agreed to preserve other burial sites that could be beneath forests.
Tomoana explained the importance of having access on special occasions to kaimoana at the end of the cape. “He said, ‘done’. So there was a real sort of spiritual, emotional and then an operational conviction.”
Tomoana says he told Robertson that as kaitiaki, the iwi and the hapū Ngāti Hawea would be their guardians as long as they stayed.
The Robertsons, who had fallen in love with New Zealand during a visit in the late 1970s, told Tomoana they were going to plant roots at the cape and keep the property forever, as the second of what has become three ultra-luxury lodges in this country.
Robertson took note of what was promised on a café napkin, and Tomoana says that was the start of an enduring relationship at Cape Kidnappers.
Last week he and other iwi representatives were on site for an important event at what is now Rosewood Cape Kidnappers.
Robertson Lodges has passed on the management of the Hawke’s Bay property, the original lodge at Kauri Cliffs in Northland, and the third at Matakauri near Queenstown to Rosewood Hotels and Resorts.
The Hong Kong-based company operates some of the most distinctive and luxurious properties in the world, including the Carlyle, a Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas, and Hôtel de Crillon, a Rosewood Hotel in Paris.
Rosewood charges property owners a fee for managing and operating properties, such as the Robertson lodges.
In the 1990s, Julian Robertson was a superstar trader whose hedge fund at one stage exceeded US$20 billion ($32.4b). Josie Robertson died in 2010, and when her husband died last year aged 90, his personal fortune was put at US$4.8b ($7.75b).
One of his three sons, Jay, who has headed the lodge operation in New Zealand for about 15 years, last week stressed that the family isn’t going anywhere.
His brothers Spencer and Alex were also at the handover ceremony, a rare gathering in Aotearoa of the three brothers.
Julian Robertson described himself as half Kiwi, and Jay Robertson says there were many reasons why the family still feel at home here.
“There’s been misconceptions out there, but my brothers and I remain as committed as ever to New Zealand, to these wonderful properties and all that has to offer; it wasn’t necessarily an easy decision to bring in a managing partner,” he told the Herald.
Robertson Lodges did research and due diligence on Rosewood before approaching them about a year ago.
“We feel strongly that we’re aligned in our values and our commitment to everything that’s important is there.”
Jay Robertson, 46, has a special tie to this country. He says he “married up” - his wife Claire is from Auckland. They met at Cape Kidnappers and their 9-year-old son, and 7-year-old daughter were both born in New Zealand.
While the family live in Vero Beach, Florida, the kids are big All Blacks fans and Jay’s son was listed as a Kiwi in a recent age-group tennis tournament in the US.
“As a family, we try to get over here at least twice a year,” says Robertson. “Pre-pandemic, I was getting over here probably three or four times a year.”
During the pandemic, which he says was the toughest time in his business life, he came to New Zealand four times and had to go through MIQ.
While Rosewood Kauri Cliffs was very much Julian and Josie Robertson’s project, Jay came on board to help develop the 2500ha Cape Kidnappers, and he and Claire discovered Matakauri and created that.
“Each one of them has a very special spot in my heart and it’s like children - I really don’t have a favourite.”
Spencer, Jay and Alex Robertson stick to their lanes
The Robertson sons have each carved out their own path and Jay says they stick to their lanes. New York-based Alex, 44, heads Tiger Management, which provides funds for the Robertson Foundation, which in turn backs environmental, educational and medical research, while 49-year-old Spencer used to work at the foundation before founding PAVE charter schools, which have attracted some controversy.
The brothers are approachable and unaffected - they’re anything but real-world versions of the children from Succession’s fictional Roy family.
Alex Robertson had to make a dash to the pro shop at the nearby golf club to buy a belt to wear at the Rosewood handover ceremony and invited the Herald along for the short ride.
Tiger Management does what the name states – managing the hedge funds (the “Tiger Cubs”) that it seeded, which were started by its star traders as the original fund was closed off to investors in 2000.
“We’re active in the sense that we are always investing in new managers and overseeing portfolio managers who are running the capital, that’s a big part of it. And then I spend a decent amount of time on the foundation, doing the good things,” says Alex Robertson.
He says Tiger Management has interests in New Zealand including education high-flyer Crimson and funding the lodges. He’s curious about other opportunities, and as an aerospace enthusiast wanted to know more about Rocket Lab, whose launches at nearby Mahia would be visible from Cape Kidnappers on a clear day.
As to the global investment climate, he says there are a lot of “potholes out there”, but probably a lot of opportunities too, once you get away from the big headline issues, whether it’s the Middle East, inflation or the prospect of recession.
“I think the bottom line is, there’s just some amazing people out there doing amazing things with sort of one-of-a-kind companies right now with this technological revolution. It’s really easy to get scared in times like this, it’s a good time to think longer term.”
It is estimated that Julian Robertson gifted close to $2b to different causes, including research in New Zealand, and the bequest of a collection of 15 European masterpieces to Auckland Art Gallery. The paintings are worth an estimated $200 million and will go on show next year.
During brief ceremonies to mark the management handover to Rosewood, the Robertson parents were often remembered. “I can feel that they’re kind of looking down and thinking ‘wow, this is really nice’”, says Alex Robertson at the lodge’s world-class golf course during what was billed as a BBQ lunch.
The menu included Kawhia Bay oysters, Big Glory Bay salmon, paua on a mānuka skewer, followed by lamb rack, slow-cooked beef fillet and line-caught snapper. Dessert was chocolate delice and pavlova with local strawberries the size of plums on a table decorated with exquisite flowers.
“My mom was quite the critic with flowers and food, and obviously my dad was too, and I think they would say this is amazing,” he said.
Jay Robertson says his parents started a mantra for the family - “good, better, best and never rest” - which is partly why Rosewood has been brought on.
“Like any business, it’s a life cycle and there’s chapters. I felt like I’d taken these businesses as far as I could, and the next chapter really required a different level - more expertise if you will.”
Rosewood Hotels and Resorts’ philosophy
Rosewood is part of New World Development, based in Hong Kong, and is owned by the Cheng family, whom Forbes estimates have a fortune of close to $47b. It adds the New Zealand lodges to its portfolio of 32 other luxury properties in the United States, Europe and Asia.
This is the first time the group has entered the Oceania market and gives it a strategic foothold in what it believes will be a popular destination for high-net-worth travellers – the sought-after top 1 per cent of the ultra-wealthy who don’t have to think too hard about spending $10,000 a night to stay in luxury.
Hoss Vetry, Rosewood’s vice-president operations for the Asia-Pacific region, was at the Cape Kidnappers ceremony and says the Robertson lodges fit with his company’s philosophy. “These are really about a lifestyle, unique experiences and each property has that sense of place - nature, the heritage, the location.” (Rosewood has trademarked the term “A Sense of Place”, which it says embraces its philosophy of reflecting each individual property’s history, culture and sensibilities.)
The Cheng family – one of the richest in Asia – bought Rosewood in 2011. Harvard-educated Sonia Cheng heads the hotel and resort group and visited the Robertson lodges several years ago.
Vetry, with 36 years in the hotel business around the world, says the family owners are hands-on, in a good way.
“They’re passionate about the products. Sonia Cheng wants the best. She really wants to push the boundaries and create something exceptional,” he says.
“We like to be pushed for excellence and think out of the box.”
The deal with the Robertsons took nearly a year to complete.
Vetry says Rosewood’s large repeat client base will help propel the lodges to a new level. While at present guests are predominantly from the US, Rosewood is well-known in Europe and Asia, where there is big potential to grow.
“New Zealand is in a key position for us in the Oceania region. We are moving this way, this is a unique destination,” he says.
“New Zealand is still a new destination for many travellers, and Rosewood’s affluent travellers, they’re looking for that unique, new experience.”
A US travel business, which sells New Zealand tours, says the Robertson lodges are well-known in that country.
The Rosewood name would further boost the lodges’ profile, says Kirk Demeter, president of Travel Answers Group.
“Rosewood is definitely a well-known high-end brand, and annually gains publicity by earning ‘best of’ hotel rankings, specifically for the Hong Kong property.
“Attaching Rosewood’s name to the former Robertson lodges will be perceived very well in the market,” Demeter told the Herald while at the US Tour Operators Association annual conference in Los Angeles.
About 85 core staff work at what are now the Rosewood lodges in New Zealand throughout the year, with more hired at peak times.
Rosewood will train them further and give them opportunities to work in its properties overseas during the low season here, says Vetry.
He says the luxury market has bounced back to exceed pre-pandemic demand, something Jay Robertson has seen too. Being prevented from travelling has helped.
“Anybody you talk to who has the means, New Zealand’s on their bucket list,” says Jay. “I always thought if there was a way to just pull that trigger and get that person to go, we would be off to the races and I think the pandemic to a certain extent did that for once-in-a-lifetime trips.”
The Robertsons will continue to scope other opportunities in New Zealand, but aren’t at a stage where they are looking for offers to purchase farms (they sold out of Dry River Wines here last year). For now, continuing to invest in the lodges is a priority, although they have committed to a second golf course at Cape Kidnappers.
“When the golf course designer [Tom Doak] built this [existing] course, he said the best course in the world is a little bit further out in the property. But certainly, there’s no immediate plans to expand on that right now.”
Robertson is taking more of a strategic role now that Rosewood is handling the day-to-day operations.
Vetry says there will be gradual, subtle changes. “These properties today are beautiful, but we continuously try to enhance our service, not drastically, but every time you come [you will notice] the offerings have changed.”
One part of the operation that won’t change is the close relationship with the locals. Art from local artist Jo Fisher hangs among works by Colin McCahon, Dick Frizzell and a Picasso plate in the main lodge building. And local produce is important.
“Our properties are connected to the communities that we’re in. We’re not just a financial institution, we’re part of the community. We try to go more local, we try to be more sustainable in our environment - responsible tourism.”
Vetry is immensely curious about New Zealand and Māori culture. He wants to further enhance the relationship with the tangata whenua.
Tomoana has an idea. Māori have followed up on the promises Julian Robertson made more than 20 years ago, bar one. “The other thing he offered was a Māori golf tournament up here once a year. We haven’t followed through on that one yet.”
Grant Bradley has been working at the Herald since 1993. He is the Business Herald’s deputy editor and covers aviation and tourism.
The Herald travelled courtesy of Rosewood Cape Kidnappers