HPL, a leading property player and hotelier, is making strides in expanding its global presence. The group recently announced its plans to acquire InterContinental Auckland for NZ$180 million ($138.5 million), marking its first asset in New Zealand and second InterContinental hotel acquisition following InterContinental Maldives Maamunagau Resort.
The off-market deal, advised by JLL’s Asia Pacific Hotels & Hospitality Group, is the largest single hotel asset sale ever in New Zealand. It was sold by Precinct Properties, one of New Zealand’s top property developers.
HPL’s latest purchase is in line with their strategy to grow their luxury hospitality portfolio in key markets across the Asia Pacific region. This is driven by their experienced management team and partnerships with renowned hotel operators like IHG Hotels & Resorts.
“The proposed acquisition of InterContinental Auckland presents a rare opportunity for us to acquire a premium asset in New Zealand,” says Stephen Lau, chairman of HPL Hotels and Resorts. The hotel is conveniently connected to the NZ$1 billion Commercial Bay lifestyle precinct, which opened earlier this year. The hotel rooms offer stunning views of the Waitematā Harbour, making it an attractive destination for business and leisure travelers.
Currently, the hotel has 139 rooms, but there is potential to expand to 190 rooms by repurposing the existing office space to meet future demand. This ensures that HPL is well-equipped to cater to the increasing demand for luxury accommodation in the region.
In addition to this acquisition, HPL has also recently launched The Boathouse Tioman in Malaysia, featuring 31 bungalows, and The Four Seasons Hotel Osaka in Japan with 176 rooms. These developments are a testament to HPL’s commitment to providing exceptional hospitality experiences and solidifying its position as a leading player in the industry.
Investing in a condo in Singapore has many benefits, with one of the most notable being the potential for capital appreciation. The country’s advantageous position as a leading global business hub, combined with its solid economic fundamentals, results in a constant demand for real estate. Throughout the years, Singapore’s property prices have consistently risen, especially for condos in prime locations. By purchasing a condo at the opportune moment and holding onto it for an extended period, investors can reap the rewards of significant capital gains. Additionally, condos in Singapore offer a range of amenities, making them an even more attractive investment option.
Despite the challenges posed by the COVID-19 pandemic, HPL remains optimistic and is continuously seeking opportunities to expand its presence in the Asia Pacific region. With its strong track record and experienced team, the group is well-positioned for future growth and success in the luxury hospitality sector.