Deal advisor, JLL’s Asia Pacific Hotels & Hospitality Group said this historic transaction reaffirms a maturing cross-border theme of Asian capital flowing to hospitality assets in the Southern Hemisphere.

“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 non-traditional markets,” said JLL’s Nihat Ercan.

Investors From Asia

“Securing an off-market sale of this magnitude demonstrates our confidence in Auckland’s position as a premier travel destination while reaffirming the appeal of New Zealand’s hospitality sector to investors from Asia. JLL was proud to partner and advise on the sale, bringing together both expertise in New Zealand and Singapore to achieve this outcome,” says Nick Thompson, Executive Vice President, JLL Hotels & Hospitality Group, New Zealand.

Scott Pritchard, Chief Executive Officer of Precinct Properties, says, “The sale of the InterContinental Auckland aligns with our strategic focus to develop best in class assets and reinvest in further growth opportunities. We are proud of what has been achieved with the InterContinental Auckland and its integration into the wider Commercial Bay precinct and look forward to watching the hotel thrive under HPL’s stewardship.”

InterContinental Assets

JLL has secured recent exclusive mandates including the Park Hyatt Melbourne, Cradle Mountain Lodge Tasmania, and Mayfair Adelaide, drawing significant interest from investors based in Singapore, Thailand, Malaysia and Hong Kong.

The purchase marks HPL’s first hotel asset in New Zealand and its second InterContinental after the InterContinental Maldives Maamunagau Resort.

Located in the heart of the city and overlooking the harbour, the InterContinental Auckland opened in 2024 with HPL suggesting that there is an opportunity to convert existing office space to bring the room count from 139 to 196.

Auckland’s tourism sector grew 13.9% in the year ending October 2024, with the city welcoming more than 2.2 million international visitors. Further growth is expected as the New Zealand government actively promotes the city as a world-class destination for leisure and business.

Kimberley Dixon