The 162-year-old Cardrona Hotel, a heritage-listed landmark near Wānaka, is being put up for sale.
Co-owner Cade Thornton described the decision to sell as incredibly difficult.
Thornton, with his partners, Alexis Thornton and James and Fleur Jenneson, owned the pub since 2013.
He said the group felt it was the right moment to step back and concentrate on their young families.
Expressions of interest are being accepted until 4pm on August 15, with the owners requesting that offers be submitted directly to them. No real estate agents are involved in the process.
Thornton noted that the price will remain confidential, but before the expansion in 2010, the property was valued between $3 and $4 million.
“We now employ 40 to 50 staff; the hotel averages 84% occupancy annually, and it’s often fully booked,” Thornton said.
There remained potential for growth, as there was land available for developing additional accommodation.
“It’s just such a friendly, happy place. It’s a great environment to work in, and to be the custodian, the captain of that, is tremendously rewarding, and to see the place change in our time. It’s defined my life, really.”
“The business is in really good stead. I’ve got some very long-term senior staff who love the pub and their jobs and their roles, and they want to see it through with the new owner.”
“The beauty about the Cardrona Hotel is that it’s a place for people from all walks of life.”
“We’ll have guests arriving by helicopter, all dressed up for a nice meal, and then the local farmers will come in, leaving their gumboots by the door. I don’t think there’s any other place quite like it in New Zealand.”
He also expressed hope that the next owner would possess a genuine passion for the pub.
“50% of buying it would be that you’d have to love it. You couldn’t just look at it as a business opportunity. You’d have to be passionate about the business, the pub, its history, and its potential.”