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December 9, 2010

Host Hotels to Buy Seven New Zealand Properties

A unit of Host Hotels and Resorts is to acquire seven hotels in New Zealand for $143m. The hotels are located in Auckland, Christchurch, Queenstown and Wellington, and comprise more than 1,200 rooms. The hotel group acquired six hotels from an affiliate of Australia's Tour

By cms admin

A unit of Host Hotels and Resorts is to acquire seven hotels in New Zealand for $143m.

The hotels are located in Auckland, Christchurch, Queenstown and Wellington, and comprise more than 1,200 rooms.

The hotel group acquired six hotels from an affiliate of Australia’s Tourism Asset Holdings while the other hotel came from an affiliate of Accor.

The deal is expected to close in January 2011 and the hotels will continue to be operated by Accor, the company said.

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