The company is a joint venture partnership formed in 2019 between the NZ Super Fund, Russell Property Group and Lockwood Property Group.<\/p>\n
The company owned QT Auckland, Four Points by Sheraton Auckland, Adina Apartment Hotel Britomart, Rydges Rotorua, Rydges Wellington, Sofitel Queenstown Hotel and Spa and BreakFree on Cashel in Christchurch.<\/p>\n
It put all of its hotels on the market last year, looking for one buyer but only three sold \u2013 QT Auckland, Rydges Wellington and Sofitel Queenstown Hotel.<\/p>\n
Hamilton said the company was now putting the others on the market individually. Rydges Rotorua\u2019s sale went live at the start of this month. <\/p>\n
He said interest was good and some site inspections had already been made.<\/p>\n
\u201cIdeally we would have sold the whole portfolio, but now it makes sense as we go through the process to sell it individually or in smaller groups. There are investors out there who would like this on its own.\u201d<\/p>\n
He said there was more national and international investor interest now.<\/p>\n
Rydges Rotorua is for sale. <\/p>\n
Rydges Rotorua was called the Holiday Inn when it was one of the Managed Isolation and Quarantine (MIQ) facilities during the pandemic. <\/p>\n
It was refurbished and rebranded as Rydges Rotorua.<\/p>\n
Hamilton said there had not been much movement in the buying and selling of hotels during the past five years.<\/p>\n
However, he said Rotorua\u2019s visitor market had been performing well and that had given sellers and buyers confidence.<\/p>\n
Agents for the Copthorne Hotel and Wai Ora Lakeside Spa Resort sales said interest was strong.<\/p>\n
The Copthorne Hotel on Fenton St is up for sale and about 14,000sq m of undeveloped land. <\/p>\n
The four-storey Copthorne Hotel has 136 rooms<\/a>, suites, conference areas, a restaurant and bar. It also includes about 14,000sq m of undeveloped land that could be used for construction or expansion.<\/p>\n Broker Mark Rendall said Colliers was selling the property by negotiation and had a conditional offer. He said the buyer was from New Zealand and doing due diligence.<\/p>\n Bayleys agent Damien Keenan said there was plenty of interest in the Wai Ora Lakeside Spa Resort sale<\/a>. <\/p>\n The resort is a 4.5-star facility with 30 rooms, a restaurant, day spa and conference area.<\/p>\n \u201cWe have had a number of inspections from international and New Zealand buyers. It\u2019s a matter of what comes to paper at the end of the day, but the interest has certainly been positive.\u201d<\/p>\n The resort is being offered to buyers via an international tender closing on July 16, unless sold prior.<\/p>\n Meanwhile, K\u0101inga Ora, which owns 2six5 on Fenton, formerly the Boulevard Motel, was making progress with its sale.<\/p>\n Wai Ora Lakeside Spa Resort is for sale via an international tender closing on July 16, unless sold prior.<\/p>\n
2six5 on Fenton. Photo \/ Kelly Makiha<\/p>\n