Host Hotels & Resorts is in the process of purchasing seven hotels in New Zealand, representing 1,200 guestrooms, according to Bloomberg. The $143 million acquisition, scheduled to close in January, represents a discount of between 25 percent and 30 percent versus replacement costs. Accor will continue to manage the properties, spread out across Auckland, Christchurch, Queenstown, and Wellington.
Host Hotels Buy Seven New Zealand Properties
The transaction will be completed next month.
Host Hotels Buy Seven New Zealand Properties
The transaction will be completed next month.
