A summary of the decision would be published in the April edition of its newsletter, he said.<\/p>\n
Rydges Hotel on Featherston St, Wellington. Photo \/ Google Maps<\/p>\n
The vendor of the Wellington and Queenstown hotels is NZ Hotel Holdings, which last May said<\/a> it wanted to sell seven hotels for $600m-plus.<\/p>\n NZ Hotel Holdings\u2019 seven hotels, with 1402 rooms, are:<\/p>\n 255-room Four Points by Sheraton Auckland, 396 Queen St;150-room QT Auckland, 4 Viaduct Harbour Ave, Westhaven,\u00a0ex-Bayleys offices<\/a>\u00a0on leasehold land;167-room Adina Apartment Hotel Auckland Britomart, 2 Tapora St, Britomart, Auckland;203-room Rydges Rotorua, previously a\u00a0Holiday Inn<\/a>, 10 Tryon St, Whakarewarewa;280-room Rydges Wellington, 75 Featherston St, central city;263-room BreakFree on Cashel Christchurch, 165 Cashel St, central city;84-room Sofitel Queenstown Hotel and Spa, 8 Duke St.<\/p>\n NZ Hotel Holdings has also sold<\/a> QT Auckland to ASX-listed entertainment, hospitality and leisure company EVT.<\/p>\n NZ Hotel Holdings is owned by the New Zealand Superannuation Fund<\/a>, Russell Property Group and Lockwood Property Group.<\/p>\n Last year, it said it wanted to quit its national hotel portfolio<\/a> after the record-breaking $180m InterContinental Auckland sale<\/a>. <\/p>\n Brookfield<\/a> has a market cap of US$75b, with its shares trading at about US$46. The company says it is a long-term New Zealand investor.<\/p>\n Last April, Brookfield entered a joint venture<\/a> with Tainui Group Holdings to develop the Ruakura Logistics Intermodal Superhub in Hamilton.<\/p>\n Brett Russell of Russell Group last month expressed satisfaction about plans to sell two of the seven to Brookfield and said a settlement was anticipated this month.<\/p>\n Brookfield already owned assets in this country, he noted.<\/p>\n \u201cWe have interest in a couple of the others in the portfolio, too,\u201d Russell said last night of further deals on the remaining five hotels.<\/p>\n The tourism sector is booming, hence hotel valuations are rising.<\/p>\n About 15,000 more overseas visitors<\/a> travelled here in January than in the same month of 2025.<\/p>\n Overall numbers edged up to 97% of pre-pandemic levels.<\/p>\n Visitor numbers from Australia, the UK, the United States and Germany were up, but fewer people arrived from China and South Korea.<\/p>\n \u201cThe fall in overseas visitor arrivals from China … reflected the timing of the Chinese New Year,\u201d Stats NZ said this month.<\/p>\n The most recent Lunar New Year started on February 17, compared with January 29 in 2025.<\/p>\nSofitel Queenstown is one of two hotels being sold to Brookfield in a deal yet to become unconditional. <\/p>\n
Brett Russell of NZ Hotel Holdings. Photo \/ Brett Phibbs<\/p>\n