HPL says that the acquisition will allow it to expand its hotel portfolio in New Zealand.
Hotel Properties (HPL) has entered a sale and purchase agreement to purchase The Intercontinental Auckland in New Zealand for NZ$180 million ($138.5 million), according to a bourse filing on March 4.
The hotel is a freehold property owned by Precinct Properties, and comprises 139 rooms, a restaurant, a gym and a Club Intercontinental.
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