Novotel New Plymouth Hobson Hotel has been sold to Ngāmotu Hotels Limited Partnership.
Ngāmotu Hotels LP is a newly established group representing multiple iwi and Trusts, and the hotel is the group’s first co-investment.
The current hotel owners, Hobson Hotel Property Holdings Limited, said the transaction was completed off market.
“In discussions with various parties, it became evident that the appetite for hotel investments was very strong and I liked the idea that the new consortium would retain ownership of the hotel assets locally. It is a very high performing hotel off the back of the Novotel brand, part of the world-wide AccorHotels Group,” said Philip Brown, director, Hobson Hotel Property Holdings Limited.
Novotel New Plymouth is an 85-room four-and-a-half-star hotel, built in 2015, operating under the Novotel brand franchised by AccorHotels.
“We look forward to continuing the successful partnership with the new owners. Novotel New Plymouth is a key property within our New Zealand network,” said Gillian Millar, senior vice president operations, AccorHotels.