It’s business as usual at the historic Okoroire Hot Springs Hotel in spite of its owner facing the threat of liquidation.
The owner of the hot springs resort says it is clearing a debt that has seen Inland Revenue apply to have the company placed into liquidation.
Kingstown Blue Spring Resort Ltd owns the 130-year-old hotel located near Tirau and Matamata in the Waikato.
Okoroire offers three natural hot pools, along with a range of leisure activities, with a range of rooms and chalets available.
The location, near the growing Matamata with its Hobbit-based attraction, and on the road between Auckland and Rotorua, has the resort in the prime spot.
Kingstown Blue Spring Resort has its registered office at the hotel on Somerville Road, Tirau.
The owners are Auckland-based Bin Hu and Kwang Seok Park, with Park being appointed in June 2016 and Hu on 31 October 2018.
The company has three shareholders: Zhiguo Feng, with 1.5 million of the 4 million shares; Hui Jin, 1.5 million; and Yaming Wang, 1 million. All are listed as being from China.
Manager Vivian Hu told The Mud that the move to put the company into liquidation was a “misunderstanding” as an arrangement had been made for Kingstown Blue Spring Resort to repay $620,000 it owed IRD in back taxes.
“We have paid half a million dollars and each month are paying $20,000, and in six months we will clear the debt.”
In the meantime, the Okoroire Hot Springs business will be operating as usual.
Okoroire Springs owner in hot water with IRD
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