There has never been a better time to own a hotel asset in New Zealand.
There has never been a better time to own a hotel asset in New Zealand.
US-based Host’s 200-room Ibis Wellington (on the corner of Featherston Street and Panama Street),which is up for sale, has received a conditional offer agreement from Auckland-based CP Group.
Host has decided to invest in the US and is therefore selling its Auckland properties.
Host sold its 247-room Novotel Ibis Auckland Ellerslie toCP Group for about $55 million. Ibis Wellington is predicted to sell for approximately the same amount.
