NZ Hotel Holdings puts hotel portfolio up for sale
New Zealand hotel group NZ Hotel Holdings (NZHH) is divesting its seven hotel assets, becoming the largest hotel portfolio ever brought to market in the nation.
A partnership between NZ Super Fund, Russell Property Group and Lockwood Property Group, NZ Hotel Holdings was formed in 2019 to develop hotel assets, supporting domestic and international tourism in New Zealand.
The NZHH portfolio of internationally branded hotels includes Auckland properties, Four Points by Sheraton, QT Auckland, and Adina Apartment Hotel Britomart, as well as Rydges Rotorua and Rydges Wellington, Sofitel Queenstown Hotel and Spa, and BreakFree on Cashel in Christchurch.
“With tourism now back on a growth curve, strong market fundamentals with increased international interest, the opportunity is here to pass on the portfolio to an investor seeking scale, geographic diversity and holistic coverage of New Zealand’s key tourism markets,” said NZHH Chief Executive Marcus Reinders.
Ruth Hogan