An old Arthurs Point hotel is getting a $1.5 million facelift.
The refurbishment programme over the next 18 months will take in the Swiss-Belresort Coronet Peak's 78 rooms, bar and restaurants.
It will lift its rating from three to four stars.
Hong Kong-based Swiss-Belhotel International has managed Queenstown's Swiss-Belresort Coronet Peak since 2013.
This week, the company confirmed it had bought the hotel property - reportedly for more than $7million.
The chain, owned by Kiwi Gavin Faull, manages more than 135 hotels, resorts and projects around the world.
The Arthurs Point company is its first real estate investment.
In a statement, the company said it was an endorsementof its confidence in the Queenstown and New Zealand tourism industry.
Mountain Scene reported last February that Auckland property developer Tim Manning's Norwich Properties had bought the hotel and planned a $4million refurbishment.
In a court judgement three months later, however, associate judge Robert Osborne said Norwich was "demonstrating an inability to pay its debts''.
Mr Manning has since welcomed Belhotel's investment.
Meanwhile, local developer Lew Gdanitz this month started work on a 54-room, $10million boutique hotel in Henry St, on the edge of Queenstown's CBD.
- Philip Chandler
