NZ Hotel Holdings, a leading New Zealand hotel group, is selling its entire portfolio of hotels across the country.
The largest hotel portfolio to be brought to the market in New Zealand. Investors have a rare opportunity to invest their capital into high quality assets across diverse market segments.
Michael Simpson of CBRE, Peter Hamilton of CBRE and Nick Hill of CBRE manage the sale via a campaign of international expressions of interest. The sale is in line with the investors’ plan to develop high-quality properties and to reinvest their proceeds into new growth opportunities.
NZ Hotel Holdings, a partnership formed between NZ Super Fund and Russell Property Group in 2019, aims to develop New Zealand Hotel Assets to support domestic tourism and international tourism.
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Due to the combined experience of both partners, the new owner has had the complexity of acquiring, structuring and seismically strengthening a portfolio of investment-grade hotels of high quality reduced.
Its portfolio includes Auckland’s market-leading hotels Four Points By Sheraton, QT Auckland and Adina Apartment Hotel Britomart as well Rydges Rotorua & Rydges Wellington as Well as Sofitel Queenstown Hotel Spa & BreakFree on Cashel Christchurch.
New Zealand’s Government has shown a strong commitment to the growth of tourism. Tourism was once the country’s biggest export. With increased funding and new international tourism campaigns targeting markets with high populations and high value, like India, China and the USA, it is expected that international travel and hotel demand will increase.
NZHH CEO Marcus Reinders stated, “With tourism back on a growing curve, strong fundamentals in the market and increased international interest, there is an opportunity to pass the portfolio on to an investor who seeks scale, geographic diversification, and comprehensive coverage of New Zealand’s key tourism markets.”
This is supported by recent benchmarks like the record-breaking sale of InterContinental Auckland Hotel.
Michael Simpson (Managing Director, CBRE Hotels Pacific) stated that this is the largest portfolio of investment grade properties ever to be offered in New Zealand. New Zealand is a world-renowned travel destination for its diverse wildlife and cultural heritage, as well as stunning landscapes. The portfolio includes hotels that appeal to leisure and business travelers alike.
The International Expressions of Interest Campaign will close on Thursday, 26th June at 4pm New Zealand Standard Time.
