There are mixed reactions to the Government's latest announcement on the Christchurch convention centre.

Stakeholders in the city are pleased to hear a $240-million building contract has been signed by Australian company CPB contractors.

The centre will be owned and operated by the Crown when it opens.

Christchurch Airport CEO Malcom Johns said before the earthquakes the city had a 25 percent share of the conventions market in New Zealand.

He said that needs to be restored so that the international science, business and not for profit communities put Christchurch back on their map.

Members of Christchurch's hospitality sector are concerned some businesses will not last the next three years.

Canterbury Hospitality Association President Peter Morrison said the sector is hurting from the lack of a convention centre, and the situation's drastic.

He said this winter has been the worst since before the earthquakes.