The Sheraton Resort Rarotonga or Vaimaanga Hotel is an incomplete derelict hotel in
Vaimaanga on
Rarotonga
Rarotonga is the largest and most populous of the Cook Islands. The island is volcanic, with an area of , and is home to almost 75% of the country's population, with 13,007 of a total population of 17,434. The Cook Islands' Parliament buildings a ...
in the
Cook Islands. Intended to be the first five-star resort in the Cook Islands, construction on the hotel stopped in 1993, and it has remained derelict ever since. The failed development almost bankrupted the Cook Islands Government, leading to government-cost-cutting and mass-migration to
New Zealand.
Planning for the resort began in 1987, when the Cook Islands Government was approached by an Italian construction company with a proposal to build a luxury hotel.
Without Cabinet approval, Tourism Minister
Norman George
Norman George (born 2 July 1946) is a Cook Islands politician and former Speaker of the Cook Islands Parliament, Deputy Prime Minister, and Cabinet Minister.
George was first elected to the Parliament of the Cook Islands in 1983. He represented ...
approved the project and the Cook Islands government subsequently signed a NZ$52 million deal with an Italian bank to fund the development.
[ In 1990, at the sod-turning ceremony, the site of the hotel was "cursed" by a local family due to a dispute over ownership of the land.][ Shortly after construction began, the construction company was placed in receivership, and its workforce returned to Italy; 16 months later its directors were arrested for fraudulent bankruptcy. The Italian bank chose a second Italian company to complete the project, and construction restated in July 1991. In May 1993, when construction was almost complete, the Italian government withdrew its guarantee for the loan amid rumours of mafia involvement, and construction ceased.][ The Cook Islands government remained liable for the interest on the loan, and it grew to $120 million, almost bankrupting the country.][ The resulting government austerity was a major driver in a wave of emigration to New Zealand.][
There have been multiple attempts to complete construction in the decades since. In 2000 New Zealand-based developer Tim Tepaki proposed to finish the resort and have it managed by the ]Hilton
Hilton or Hylton may refer to:
Companies
* Hilton Worldwide Holdings, Inc., a global hospitality company based in the United States that owns several hotel chains and subsidiary companies containing the Hilton name
** Hilton Hotels & Resorts, fla ...
chain.[ In 2010 the site was purchased by New Zealand-based Mirage Group, who filed an Environmental Impact Assessment seeking approval to redevelop it in 2014.][ then surrendered the lease. In 2017 Tim Tepaki attempted to redevelop the site a second time, with backing from the ]Asian Infrastructure Investment Bank
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to improve economic and social outcomes in Asia. The bank currently has 105 members, including 14 prospective members from around the world. The br ...
.[ He abandoned the project in 2018. The site was then left derelict and later used as a paintball site.
In May 2022 Cook Islands Prime Minister Mark Brown announced that a local partnership would redevelop the site.]
References
External links
Photos of the site
at Deserted Places.
{{Coord, 21, 15, 38.08, S, 159, 47, 44.36, W, display=title
Hotels in the Cook Islands
Rarotonga
Unfinished buildings and structures