Auckland hotel sale biggest ever

Transacted by JLL, an international consortium bought the five-star Albert Street hotel. It includes New Zealand’s biggest hotel owner, CP Group, with a global portfolio of more than 50 assets, global investment firm Alvarium Investments, via its locally owned Auckland office, and Archipelago Capital.

The Stamford Plaza Auckland sale equates to more than $700,000 per room - across 286 rooms and suites - once planned refurbishments are completed.

The Stamford Plaza, which, was originally branded as The Regent, has been managed and operated by Stamford Hotels & Resorts as part of the Stamford Group for the past 27 years. The group says the hotel was especially hand-picked by group chairman CK Ow during his strategic acquisitions in the 1990s throughout Australasia.

In October 2008, the Stamford Group not only upgraded the hotel, but added 149 ultra-high-end luxury apartments, contributing to the change in the city-landscape.” says Thomas Ong, chief operating officer.