Hotel Properties Limited (HPL) is taking its global presence to new heights through the recent acquisition of InterContinental Auckland, for a whopping NZ$180 million ($138.5 million). This will be the first property in New Zealand for the group and its second InterContinental hotel, following the InterContinental Maldives Maamunagau Resort.
According to JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by Precinct Properties in New Zealand, this off-market transaction is the largest single hotel sale ever in the country. HPL’s move towards Auckland comes on the heels of its successful launches, The Boathouse Tioman in Malaysia, featuring 31 bungalows, and The Four Seasons Hotel Osaka in Japan, which boasts 176 rooms, last year.
HPL has set its sights on expanding its luxury hospitality portfolio across key markets in the Asia Pacific region, bolstered by its skilled hospitality management team and strong partnerships with operators like IHG Hotels & Resorts.
“The proposed acquisition of InterContinental Auckland presents a rare opportunity for us to acquire our first premium asset in New Zealand,” shares HPL Hotels and Resorts Chairman Stephen Lau. The property offers seamless connectivity to the NZ$1 billion Commercial Bay lifestyle precinct, which officially opened in January 2024. Guests at the hotel can enjoy breathtaking views of the Waitematā Harbour, adds Lau.
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While the existing hotel boasts 139 rooms, there is potential for expansion up to 190 rooms by utilizing the current office space to cater to future demand.