Plans for a "boutique hotel" in the middle of Hastings are ready to move towards the construction phase pending the signature of a partner operator or investor for the project.
Colliers International is about to release plans by Hawke's Bay firm Gemco Construction for a 36-room hotel on Eastbourne StEast, opposite the Hawke's Bay Opera House.
Colliers said the hotel would contribute towards the revival of the city centre and be alongside two recently completed redevelopment projects, the Opera House and the Hastings District Court building.
Plans to build an international-style hotel have been in the pipeline for almost a decade as Hastings has no such accommodation available in the city centre.
In the past week, international visitors for a Pacific business conference and festival at the Opera House in Hastings had to book accommodation in Napier or Havelock North and commute each day to the venue.
Hastings Mayor Lawrence Yule said there could still be room in the city for another hotel, which could accommodate 80 to 120 people.
"The plan for an international hotel is still being worked on by developers," he said.
"Finding an investor for such a big project has been difficult given the worldwide financial crisis.
"We are talking about $15 million to $20 million for a 120-bed hotel. That's a lot of money to find. But Gemco is a well regarded company with a good track record.
"They believe they can do one with about 40 rooms. They are the first cab off the rank and so that's why I am supporting it."
The project has the backing of the Hawke's Bay Opera House and the Hawke's Bay Chamber of Commerce.
Opera House general manager Roger Coleman said: "This is something we believe visitors to Hastings will embrace, a high-end, central boutique hotel located a stone's throw from the opera house and the city's restaurant and night life."
