Hotel Properties Ltd. has acquired the newly developed InterContinental Hotel Auckland, for $103.4 million. The off-market transaction represents the largest single hotel asset sale ever in New Zealand.
The seller was New Zealand–based Precinct Properties.
“Asia-based capital has been extremely active in the Oceania hotel space and with this landmark transaction, it is clear that New Zealand stands as one of the most attractive hotel markets regionally for investors diversifying into nontraditional markets. The success of this transaction rests on our ability to harness the strength of our Asia Pacific platform, facilitating capital from Singapore to highly desirable locations including both New Zealand and Australia,” said Nihat Ercan, CEO, JLL Hotels & Hospitality Group, Asia Pacific, which represented the sale.
The luxurious InterContinental Hotel Auckland, located in the heart of the city and overlooking the harbor, opened its doors in 2024, rapidl
