EVT acquires QT Auckland from NZHH in strategic New Zealand expansion

ASX-listed entertainment, hospitality and leisure company EVT has acquired the luxury QT Auckland hotel from NZ Hotel Holdings, marking a significant addition to EVT’s growing portfolio of premium assets across Australasia.

The sale is aligned with the NZHH’s investors’ strategy to develop high-quality assets and to re-invest the proceeds of those developments into further growth opportunities.

EVT’s CEO Jane Hastings commented, “We are pleased to secure ownership of one of our flagship QT hotels, reinforcing our commitment to growing earnings from owned hotel assets and advancing our broader hotel brand strategy. This investment also complements the upcoming conversion of our Queenstown property to the QT brand, which will be an exceptional property in one of our strongest markets, with Auckland serving as a key feeder market for international visitors to Queenstown.”

Located in Auckland’s Viaduct Harbour, the hotel features 150 rooms and suites, an award-winning rooftop bar, conference facilities and its signature restaurant, Esther. It is one of the city’s most iconic lifestyle destinations.

The transaction was negotiated by CBRE Hotels’ Michael Simpson, Peter Hamilton and Nick Hill.

CBRE’s Michael Simpson said, “The sale of QT Auckland highlights the strong investor appetite for premium hotel assets in Auckland’s CBD. High-quality properties in prime locations continue to attract significant interest, reflecting confidence in the city’s long-term growth.

“Throughout the process it was apparent that the vendors were going to be able to develop a superior outcome for their investors through an individual asset sale of the QT Auckland rather than including it in a portfolio sale,” he added.

NZHH Chief Executive Officer Marcus Reinders commented, “It is exciting to see EVT expanding its investment in New Zealand’s hotel sector. With tourism on an upward trajectory, strong market fundamentals, and growing international interest, the opportunity for EVT to add this premium lifestyle property to its portfolio is a significant development for Auckland.”