BlueSky Capital to Buy Four Hotels in Queenstown, New Zealand

July 25, 2007 - Bloomberg By Tracy Withers

July 26 (Bloomberg) -- BlueSky Capital, a U.K. investor in resorts and hotels, is spending NZ$300 million ($241 million) on four properties in Queenstown, New Zealand, including a 221-room hotel for Intercontinental Hotels Group Plc.

The properties are among 13 planned by closely held New Zealand property company Melview Developments Ltd. as part of its NZ$1 billion Kawerau Falls Station project on the Queenstown lakefront. Closely held BlueSky will also buy a 197-room serviced apartment hotel, a luxury lodge and a second apartment block, Melview said in a statement e-mailed to Bloomberg News.

BlueSky is headed by Stephen Bellotti, who was Dresdner Kleinwort Wasserstein's London-based head of capital markets until March last year. The Manchester-based investor runs the $250 million Global Destinations Fund to invest in resorts.

``New Zealand as a destination is increasingly top of mind for visitors from the Northern hemisphere,'' Bellotti said in the statement. ``Kawarau Falls Stations will soon be recognized as the leading resort-style development in New Zealand.''

Melview Developer Eyes Central Otago - August 3 2007, The National Business Review
Resort hailed as biggest project since Clyde Dam - August 2 2007, Business Day
Youngsters brave downpour to get closer to nature - August 1 2007, North Yorkshire News
$300m in Kawarau Falls – July 27 2007, The National Business Review
Resort investor adds $300m to development - July 27, 2007, Otago Daily Times
McKenna sells third of a billion dollar Queenstown development - July 27 2007, Globalkiwis.com
Approval for big resort investment - 27 July 2007, The Press by David Williams
$300m resort sale - July 27 2007, The New Zealand Herald
UK fund earmarks $300 million for Queenstown development - July 26 2007, The National Business Review By Tamsyn Parker
McKenna sells third of a billion dollar Queenstown Development - July 25 2007, TMC Net
Youngsters put nature project in picture - July 25 2007, Northern Echo
Approval for big resort investment - July 7 2007, The Press
A little place for that greener getaway - May 22 2007, The London Paper
Green Light - April 7 2007, GNER Livewire Magazine
North Yorkshire’s natural place to retreat from it all - March 25 2007, The Guardian
Great green getaways - February 22 2007, Pure Yorkshire
New wave eco-lodges - February 11 2007, The Sunday Times
New company to take ‘green’ lodges design idea nationwide - February 7 2007, North Yorkshire News
Encouraging the Natural way to enjoy a holiday - February 6 2007, Yorkshire Post Business
Richard Hammond’s clean break Aislabeck, Yorkshire - February 3 2007, The Guardian
Next year I want to……..be greener - December 30 2006, The Guardian