One of the most recognizable names in the property and hospitality industry, Hotel Properties Ltd (HPL), is expanding its global reach with the acquisition of InterContinental Auckland for NZ$180 million ($138.5 million). This will mark the group’s first property in New Zealand and their second InterContinental hotel purchase, following the success of InterContinental Maldives Maamunagau Resort.
This off-market transaction is set to become the largest single hotel asset sale ever in New Zealand, according to JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by New Zealand’s Precinct Properties. HPL’s latest acquisition in Auckland comes soon after the successful launch of The Boathouse Tioman in Malaysia, featuring 31 luxury bungalows, and the 176-room Four Seasons Hotel Osaka in Japan last year.
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HPL is determined to expand its portfolio of luxury hotels across key markets in the Asia Pacific region, leveraging its experienced hospitality management team and strong partnerships with top operators such as IHG Hotels & Resorts. Chairman of HPL Hotels and Resorts, Stephen Lau, states that the acquisition of InterContinental Auckland is an exceptional opportunity for the company to acquire their first premium asset in New Zealand.
The property itself is situated in the heart of NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. Guests at the hotel can enjoy stunning views of the Waitematā Harbour, making it an ideal location for both business and leisure travelers. Currently, the hotel boasts 139 rooms, but it has the potential to expand up to 190 rooms by repurposing the existing office space, making it well-equipped to cater to future demand.