I have said a lot recently about increased development in our city - increased activity brings about increased confidence which ultimately drives our economy.
A development like this will bring an uplift in tourist numbers to our city and an opportunity to gain some ground on Queenstown, which have probably stolen some of our market over recent years.
It also goes hand-in-hand with promoting Rotorua as a spa destination.
A five-star hotel complex will be a great addition to our existing accommodation offering and will fill a niche currently vacant. A five-star hotel will bring in another class of traveller.
Such a development will also bring our lakefront to life - look at the Wellington waterfront and Auckland's Viaduct and the vibrancy they provide. In close proximity to Eat Streat and CBD the retail spin off will be huge.
The announcement also sparked a chain of thought for me. This investment in Rotorua is a very significant step for our community. It is also a very significant investment by Maori into our city's future.
The Maori economy is a large driver in our future and will only continue to grow. While we openly applaud investments such as this we continue to debate whether or not Te Arawa should get voting rights on council committees and have a say in the city's future.
We have even questioned whether it is the democratic thing to do. Personally, if I had someone who could make significant investments such as this into my future I would openly seek their input and allow them some say on our future.
-Darrin Walsh is chief executive of the Rotorua Chamber of Commerce.