NZ DEVELOPERS EYE UP ABANDONED SHERATON DEVELOPMENT
The ramshackled ruins of the former Sheraton Hotel development on Rarotonga could be rescued by a New Zealand development company. Mirage Group Ltd says it wants to compelte the current buildings on the Vaimaanga property in stages and then look at carrying out further building. But it hasn't said where the investment will come from. The first attempt to build a Hilton hotel on the site almost bankrupted the country.