ACQUISITION OF HOTELS BY COMPANIES
-Press Association
! 3y Telegraph-
CHRT8TCHURCH, Mar. 13. Addressing the Land Saies Appea! Court today, counsel for the Crown (Mr. S. T. Barnett) asked for a judg' ment that would denv breweries, 'wine and spirit merchants and other holding companies the right to acquire more hotels than they now own. Throughout the country, he said, a number of applications for approval of the purchase of hotels by such companies were adjourned, while Land Saies Committees await the Courf's ruling on the present appb'cation by New Zealand Breweries, Ltd., for approval of their pun liase of the Bryce Hotel, Akaroa., from Mrs. R. H. Burland for £5500. .Mr. Barnett quoted the fuiding of the Licensing t'ommission that New Zealand Breweries' net holdings comyrised 186 hotels, an,d that it yygs linked through its directors >vith al| the principal hotel-owning conqianies. With only 109.8 Ucenses I11 the >'omin ion, the supply was limited, and fijrtlier purchases woukl inflate the prices of hotels not vot under eompany control, as well as strengthen the monopolistic tcndencv. For the eompany Mr. D. E. Wanklyn said that Ihe eompany wislied to i'niprove hotel accommodation at holiday resorts, and for this reason ma'ny hotels at such places had been bought. Decision was reserved.
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Bibliographic details
Chronicle (Levin), 14 March 1947, Page 5
Word Count
209ACQUISITION OF HOTELS BY COMPANIES Chronicle (Levin), 14 March 1947, Page 5
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