Sorry to bring up such an old thread, but couldn't find a more relevant one.
Bye-Bye Hilton Queenstown -
http://www.scene.co.nz/16172a1.page
Developer faces bankruptcy owing $100m.
Problems besetting developer Dan McEwan should put paid to Queens.town’s five-star $60 million Hilton Hotel and other planned local projects.
Last November, the Aucklander’s Hilton development company Pinpoint Trustees was liquidated by Inland Revenue.
According to the liquidators’ first report, Inland Revenue claimed $315,452 in outstanding GST and PAYE and there’s “unlikely” to be a return to unsecured creditors.
Liquidators say McEwan has advised that his company “experienced financial difficulty caused by the downturn in the New Zealand property market”.
Last weekend, the Sunday Star-Times also reported the Auckland District Court being told how McEwan faces debts of more than $100m and bankruptcy proceedings loom later this month.
Definitely looks like the Hilton Queenstown isn't going ahead...
Wellington also was cancelled last year -
http://www.stuff.co.nz/4441191a11.html.
What's the status of the Christchurch development? Last I saw was this article -
http://www.stuff.co.nz/4561253a13.html from May 08.