Developers of the Hilton Dunedin say the project is still on track but the global economic slowdown has prompted a rethink about the way it is marketed.
Kelly McEwan of Auckland-based McEwan Group said in an interview yesterday that it was business as usual, but such had been the speed with which the world economy had slowed, there was still no start date for renovation of the former chief post office in Princes St.
Had the economic environment been better, construction would have been under way by now, he said.
"It's a pretty slow world."
In addition to the market slowing, he said Dunedin buyers had "not jumped at the units" which were being sold.
The promoters had been searching globally for investors and Mr McEwan said they were looking for alternative ways to promote the project.
He would not reveal details.
The McEwans were selling 112 hotel suites, priced between $280,000 and $380,000.
More than 25 of the 34 apartments had already been sold off the plans.
The five-star facilities would be managed on behalf of the owners by the Hilton hotel chain.
The complex would have restaurant and bar facilities, a business centre, conference facilities, gymnasium, lap pool and spa.
