New Zealand police on Thursday said they have levelled five murder charges against a man suspected of igniting a deadly hostel fire in Wellington last month.

The 48-year-old man, already remanded in custody on two counts of arson, now also faces the five murder charges, police said.

The deadly blaze engulfed the four-storey, 92-room hostel a fortnight ago in Wellington's city centre, killing five men who police have named.

Inspector Dion Bennett, acting Wellington district commander, said the victims' families have been informed.

"Our thoughts are with them and we are continuing to ensure they are supported through this process," he added.

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