HPL Hotels and Resorts, a prominent player in the property and hotel industry, is making strides to establish its global presence with the proposed purchase of InterContinental Auckland for NZ$180 million ($138.5 million). This landmark acquisition, which is the group’s first in New Zealand and second InterContinental hotel purchase after InterContinental Maldives Maamunagau Resort, is expected to pave the way for further expansion in the region.
According to JLL’s Asia Pacific Hotels & Hospitality Group, which facilitated the off-market transaction in collaboration with Precinct Properties, this is the largest ever single hotel asset sale in New Zealand. This move comes hot on the heels of HPL’s recent launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room The Four Seasons Hotel Osaka in Japan last year.
HPL is determined to broaden its luxury hospitality portfolio in key markets of the Asia Pacific, leveraging its seasoned management team and strong partnerships with established operators such as IHG Hotels & Resorts. “The proposed acquisition of InterContinental Auckland presents a rare opportunity to acquire a premium asset in New Zealand,” states Stephen Lau, the chairman of HPL Hotels and Resorts. The property, which is seamlessly connected to the lively NZ$1 billion Commercial Bay lifestyle precinct that opened in January 2024, boasts stunning views of the Waitematā Harbour.
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Currently, the hotel has 139 rooms, but it has the potential to expand to 190 rooms by reconfiguring the existing office space to cater to future demand. With this strategic purchase, HPL is poised to strengthen its foothold in the fast-growing Asia Pacific region and solidify its position as a leading player in the luxury hospitality sector.