By Kim Bowden
To read from the original article visit Business South – July 2025 | Volume 34 | Issue 5
Image: G2 Studio
Perched above the Shotover River in Queenstown’s Arthurs Point, the former Nugget Point Hotel is being redeveloped into Coronet Ridge Resort – a five-star alpine retreat set to bring a fresh level of luxury to the area’s accommodation market.
The transformation, spearheaded by owners New Bay Group, with management oversight from Capstone Hotel Management, represents a $30 million investment into the future of the site and Queenstown’s high-end tourism offering.
Clare Davies, the founder and managing director of Capstone, says this isn’t just a refurbishment – it’s a rebuild. “The hotel’s been taken right back to blockwork. The team has completely gutted and modernised every part of the asset: plumbing, electrical, HVAC (heating, ventilation, and air- conditioning) and interiors – even the restaurant roof has come off. It’s essentially a brand-new build.”
However, despite the new chapter, the site’s legacy remains. Nugget Point Hotel once operated in the five-star bracket, though over time, limited reinvestment saw it shift to a more modest standing. The relaunch as Coronet Ridge marks not just a return to form, but a significant step forward.
Clare says she is proud to be working alongside New Bay Group, calling their investment a strong vote of confidence in the destination.
“We’ve got owners who see the potential in Queenstown and the wider tourism sector, and they’ve committed to a substantial investment back into the asset,” she says. Due to open in late 2025, Coronet Ridge will feature 41 boutique rooms, each with a private balcony or patio, and styled with natural textures, timber joinery, and curated landscape photography.
The resort will boast standout facilities, including a Roman-style day spa, private cinema, squash courts, and a new restaurant, Elevation, led by acclaimed chef Des Harris.
Positioned just minutes from the access road to the Coronet Peak ski area, the resort benefits from being just far enough outside central Queenstown to off er quiet luxury – yet still connected to everything that makes the region special.
“We’re really fortunate to have a location that offers the best of both worlds,” Clare says. “You’re close to ski fields, iconic attractions like Shotover Jet and Arrowtown, and world-class food and wine. But you also get to retreat back here – positioned up over the river, with what I’d say are some of the best views in the country.”
As for what the five-star guests can expect – it’s more than just high thread-count sheets. “They’re looking for personalised service, local knowledge, and a sense of arrival – being made to feel welcome. Our staff aren’t just hosts – they’re guides, curators of experience,” Clare explains.
“We’re here to help people really discover Queenstown and connect with it.”
Rooms at the soon-to-be-open Coronet Ridge Resort are bookable now for stays from late November onwards. Clare is confident the reimagined resort will attract both international and domestic leisure and business travellers – and also welcome locals seeking a relaxing spa experience or a special night out. “We can’t wait to relaunch the resort as Queenstown’s newest sanctuary for relaxation, adventure, and rejuvenation,” she says.