Hpl Makes First Foray New Zealand Proposed Purchase Intercontinental Auckland 1385 Mil

HPL, a leading property player and hotelier, has announced its plans to expand its global presence with the acquisition of InterContinental Auckland for NZ$180 million. This marks HPL’s first venture into the New Zealand market and its second acquisition of an InterContinental hotel, following the InterContinental Maldives Maamunagau Resort.

The off-market deal, facilitated by JLL’s Asia Pacific Hotels & Hospitality Group, is the largest single hotel asset sale in New Zealand to date, according to JLL. The sale was advised by Precinct Properties, a New Zealand-based company.

HPL’s purchase of the Auckland hotel comes on the heels of the recent launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room Four Seasons Hotel Osaka in Japan. These developments reflect HPL’s intention to expand its luxury hospitality portfolio in key markets in the Asia Pacific region, leveraging its experienced management team and strong partnerships with operators like IHG Hotels & Resorts.

Chairman of HPL Hotels and Resorts, Stephen Lau, sees the proposed acquisition of InterContinental Auckland as a rare opportunity to acquire a premium asset in New Zealand. The property is conveniently located next to the NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. The hotel rooms offer stunning views of the Waitematā Harbour, adds Lau.

At present, the hotel has 139 rooms, but HPL has plans to potentially expand to 190 rooms in the future by converting the current office space to meet growing demand. This demonstrates HPL’s commitment to providing exceptional hospitality experiences and meeting the ever-evolving needs of its guests.