US billionaire buys Queenstown hospitality business

Friday, 5 June 2026

Cantabrian hospitality entrepreneur Andrew Cox has sold his Queenstown lakefront business to a Texan billionaire whose existing portfolio includes resorts, wineries and sports teams.

Cox, whose company the Imperium Group is based in Melbourne, has operated Eichardt’s Private Hotel and The Grille restaurant for 15 years.

Bill Foley, 82, heads the Foley Entertainment Group in the United States.

He has now sold the award-winning business and leases to American billionaire Bill Foley.

The premises, which comprise the 19th century hotel building and a modern building next door, remains owned by Skyline Enterprises, which also owns the Christchurch Casino.

Inside Queenstown Eichardt's Private Hotel.

It is understood the purchase was made after Foley visited the town to look at business opportunities.

Foley, aged 82, heads the Foley Entertainment Group in the United States.

The group’s American assets include ice hockey and football teams, sports arenas, a wine and spirit empire, hotels, resorts, and restaurants.

Christchurch-born and Melbourne-based Andrew Cox has sold his hospitality business on the Queenstown lakefront..

In New Zealand, the group owns the Wharekauhau Country Estate luxury hotel in Palliser Bay, and the Mt Difficulty winery in Central Otago which it bought for $60m in 2019 after receiving Overseas Investment Office approval.

The Eichardt’s business includes hotel accommodation, an in-house bar, French restaurant The Grille, and the penthouse suite which has room rates of over $13,000 a night and comes with a butler, chef, and driver.

Luxury superyacht Pacific Jemm is owned by businessman Andrew Cox, who has sold his hospitality business at Eichardt’s Hotel.

Its honours have included being named New Zealand’s best luxury suite hotel, and being awarded a Michelin key.

Cox bought the Queenstown business in 2010, and added the building next door in 2016.

Late last year he bought Fiordland Lodge luxury hotel at Te Anau for about $15m. Included in the sale was the Lake House, accommodation where guests have included movie star Harrison Ford.

He also owns a superyacht called Pacific Jemm which is moored on the Queenstown waterfront.