Naumi Hotels expands portfolio with acquisition of two hotels in Wellington
CEO Gaurang Jhunjhnuwala says purchase is in line with strategy to garner a strong foothold in New Zealand market
Singapore
SINGAPORE-BASED hospitality group Naumi Hotels is expanding its footprint in the region with the acquisition of two hotels in Wellington, New Zealand.
The Comfort Hotel Wellington and Quality Hotel Wellington, which are both located in the city centre, will boost the hotel owner-operator's portfolio by 177 rooms, up from the current 266 rooms.
The properties were reportedly sold by Rex Nicholls, husband of former Wellington mayor Kerry Prendergast, and Sage Securities.
While the actual price of the hotels was not disclosed, BT understands that broker Colliers International was marketing the properties last yea…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co