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Speaker 1: One of the country's most iconic hotels is up for sale.

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Speaker 1: The one hundred and sixty four year old Cadrona Hotel

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Speaker 1: built an eighteen sixty three award winning restaurant year round,

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Speaker 1: be a garden, seventeen hotel rooms. What's not to want

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Speaker 1: a Kate Thornton is the co owner and as well

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Speaker 1: as cad morning.

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Speaker 2: Good morning, how are you well?

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Speaker 1: Thank you? The decision to sell juist or not?

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Speaker 2: No? Well, yes, very aarduous. We don't want to sell,

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Speaker 2: but it's time to self.

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Speaker 1: Is it based on what you want to go and

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Speaker 1: do other things?

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Speaker 2: I want to go do other things, spend time with

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Speaker 2: my young kids, see the world and just pubs take

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Speaker 2: up a lot of your life and time energy, but

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Speaker 2: they're definitely hugely rewarding.

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Speaker 1: What would you say about your time? Which how long

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Speaker 1: has it? How long you been at least a decade?

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Speaker 2: Isn't it twelve years? It's my thirteenth winter?

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Speaker 1: Wow? And your time there? How would you encapsulate it?

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Speaker 2: It's defined my life no way, So it's just it's

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Speaker 2: completely defined my life. Owning an icon is is hugely rewarding.

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Speaker 1: So is it the icon you've enjoyed or Is it

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Speaker 1: just a hotel and you could do it somewhere else

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Speaker 1: if it wasn't an icon.

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Speaker 2: I don't know if I could do it somewhere else.

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Speaker 2: It's definitely definitely the icon and what it's brought to

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Speaker 2: our life. And just the Codrona Valley's pretty special too,

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Speaker 2: And so I think just everything about the pub that

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Speaker 2: makes it specials what's made it special for me?

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Speaker 1: Is it a going concern?

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Speaker 2: Yeah, freehold, going concern, the whole lock stock.

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Speaker 1: And barrel and staffing. Do you have trouble?

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Speaker 2: No during COVID years, post COVID years, but no, the hotel,

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Speaker 2: I think it's fame. It's at Lewis Star. So it's

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Speaker 2: you just got to make sure you pick the right

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Speaker 2: ones out of the extens.

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Speaker 1: And what about the clientele? Are they all locals or

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Speaker 1: tourists or a mix of?

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Speaker 2: Ah? Makes huge? Makes small funny? Fifty locals in the

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Speaker 2: Codrona Valley, but Queen certain were a massive locals destination

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Speaker 2: of Queen Sound and Wan people and internationals. It's it's

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Speaker 2: famous in our time social media, it's famous worldwide.

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Speaker 1: How are you train seasonal now? In the sense it does?

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Speaker 2: It?

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Speaker 1: Does it? It's so there isn't a season in Queenstown anymore?

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Speaker 2: Not really, No. I mean when we bought it, you know,

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Speaker 2: twenty thirteen, winter was its bigger season, with great summers.

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Speaker 2: Now summers bigger than winter. The shoulder periods are really

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Speaker 2: small now, which I thoroughly enjoy.

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Speaker 1: Okay. And the accommodation what part does that play as

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Speaker 1: opposed to the beer garden, as opposed to the food.

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Speaker 2: The accommodation is a huge part of the business. Staying here,

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Speaker 2: you know, everyone loves staying here and that feeds your

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Speaker 2: bar and your restaurant. But you know, we have an

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Speaker 2: on site retail store. You know, it all just works,

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Speaker 2: It all just works hand in hand smoothly and really well.

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Speaker 1: How are you selling it? Are you doing a tender

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Speaker 1: or a boxtion.

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Speaker 2: Or a expressions of inter sale over six weeks period

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Speaker 2: and we're actually going to be selling it ourselves?

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Speaker 1: Oh no way, good onion? What do you want for it?

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Speaker 2: Big decisions? We've decided we're not going to disclose that.

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Speaker 1: Sorry, Okay, is it seven figures? How many sevens?

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Speaker 2: Is it?

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Speaker 1: Is it heading towards eight figures or is it closer

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Speaker 1: to just into sevens?

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Speaker 2: We'll go as anything. To be honest, you want, you.

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Speaker 1: Want to have you got intest so far genuine interested

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Speaker 1: too early.

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Speaker 2: There's always interested in the hotel throughout our ownership. There

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Speaker 2: has always been paid.

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Speaker 1: So you won't have trouble selling it.

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Speaker 2: No, absolutely not. And there's been a massive amount of

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Speaker 2: interest from you get on wide and overseas already overnight.

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Speaker 1: Does it need does it need any work?

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Speaker 2: It always needs work.

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Speaker 1: No, no, no, But apart from the odd part, apart

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Speaker 1: from the ongoing it does it? Yeah, you probably rewired

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Speaker 1: the place you're not going to reroof.

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Speaker 2: The back was all done in two thousand and one

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Speaker 2: when it had a massive investment into it plumbed.

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Speaker 1: Absolutely fantastic. Will go well with it and I'm sure

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Speaker 1: you will sell it. And good luck with whether youre

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Speaker 1: head on to Kate Thornton, who's the co owner of

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Speaker 1: the Kadrona Hotel. If you never being that it's well

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Speaker 1: worth it. I mean it's a sensational part of the

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Speaker 1: sensational part of the country, Tim and Katie. What you

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Speaker 1: reckon is worth I was looking into one hotel that

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Speaker 1: was I know what that hotel was worth, but this

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Speaker 1: is a different I reckon it's worth six, seven, eight. Yeah,

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Speaker 1: Erecon's worth four. Sam reckons, it's worth four, mind you,

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Speaker 1: Sam Reckon that Amazon put robots in four years ago.

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Speaker 1: So I don't think Sam's good on real estate or

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Speaker 1: hotels or but you know anyway. For more from The

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Speaker 1: Mic Asking Breakfast, listen live to news talks.

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Speaker 2: It'd be from six am weekdays, or follow the podcast

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