…as its record $180m hotel sale is listed among top APAC deals – Colliers

29th May 2025 By Paul Yandall | paul@propertyticker.co.nz | @propertyticker

Precinct Properties’ $180m sale of its Auckland InterContinental hotel has been listed as one Asia Pacific’s top hotel deals during Q1 2025.

Colliers latest Asia Pacific Hospitality Insights report has placed the sale to Singapore-based Hotel Properties Limited as the fourth largest in the region during the three months. 

Of the top Q1 deals, the Precinct record sale for a New Zealand hotel also had one of the highest returns at more than $1m per room.

Colliers’ report said investor confidence in New Zealand’s hotel market was building, highlighted by the landmark sale of the InterContinental in Auckland, which set a new pricing benchmark. 

“Falling interest rates have improved financing conditions, supporting asset values and deal flow,” the agent said.

“Despite global headwinds, transaction volumes are expected to rise in 2025, reflecting renewed optimism in the sector’s long-term fundamentals.”

Colliers New Zealand advisory director Derrek Anderson added that New Zealand’s hotel market was “gaining altitude, driven by surging visitor demand, landmark transactions and strong regional performance”. 

“With Queenstown setting new benchmarks and Auckland gearing up for an events-fuelled revival, the sector is entering a new era of purposeful growth and global opportunity,” he said.

Hotel performance remained solid, with Queenstown and Rotorua leading occupancy at 75%, while Auckland and Wellington were at 68%. Queenstown topped the revenue metrics, with strong RevPAR and a record ADR of close to $700 on New Year’s Eve. 

“Auckland leads the national supply pipeline, with over 13,600 rooms under construction or completed,
while other cities also show active development,” Colliers said.

“Auckland is set to benefit from the New Zealand International Convention Centre launch, while Queenstown is expected to retain its top-performing status.

“Lower interest rates and global investor interest will likely fuel further transactions, while macroeconomic recovery should support gradual improvement in Auckland and Wellington.”

Colliers’ Asia Pacific Hospitality Insights report can be read here.