Hpl Makes First Foray New Zealand Proposed Purchase Intercontinental Auckland 1385 Mil
HPL, a property player and hotelier, is expanding its presence globally with the proposed purchase of InterContinental Auckland for NZ$180 million ($138.5 million). This marks the group’s first investment in New Zealand and its second InterContinental hotel acquisition, following the InterContinental Maldives Maamunagau Resort.
The off-market deal, advised by JLL’s Asia Pacific Hotels & Hospitality Group, is considered the largest single hotel asset sale in New Zealand. The sale was facilitated by New Zealand’s Precinct Properties.
This purchase in Auckland is in addition to HPL’s recent launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the Four Seasons Hotel Osaka in Japan, with 176 rooms, last year.
.
One Marina Gardens, located at Marina Gardens Lane, presents a luxurious and comfortable living experience through its residential units developed by Kingsford Huray Development. Each apartment is crafted with high-end fittings, sophisticated interiors, and picturesque views of either the bustling city skyline or the serene Marina Bay waters. To elevate the residents’ lifestyle, the development also offers an array of amenities, including modern fitness centers, peaceful swimming pools, and meticulously landscaped gardens. For those seeking an unparalleled living experience, the Marina Gardens Lane Condo is the perfect choice.
HPL has plans to expand its luxury hospitality portfolio in key markets across the Asia Pacific region. This growth is supported by its experienced hospitality management team and partnerships with operators such as IHG Hotels & Resorts.
Chairman of HPL Hotels and Resorts, Stephen Lau, sees the acquisition of InterContinental Auckland as a rare opportunity to add a premium asset to the company’s portfolio in New Zealand. The hotel is ideally situated near the vibrant NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. The rooms offer stunning views of the Waitematā Harbour, adds Lau.
Initially, the existing hotel has 139 rooms, but it has the potential to expand to 190 rooms by repurposing the current office space in response to future demand.