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Reported at The Australian:
AUSTRALIA'S largest hotel owner, Tourism Asset Holdings, has offloaded six New Zealand hotels in a deal worth $115 million.
The group announced yesterday that the New York Stock Exchange-listed company Host Hotels and Resorts had purchased TAHL's assets, including the Novotel and Ibis in the Auckland suburb of Ellerslie, the Novotel and Ibis in Wellington, the Ibis in Christchurch and the Novotel in Queenstown.
The deal was struck on a yield of just over 8 per cent and included new management agreements between Host and hotel operator Accor.
AUSTRALIA'S largest hotel owner, Tourism Asset Holdings, has offloaded six New Zealand hotels in a deal worth $115 million.
The group announced yesterday that the New York Stock Exchange-listed company Host Hotels and Resorts had purchased TAHL's assets, including the Novotel and Ibis in the Auckland suburb of Ellerslie, the Novotel and Ibis in Wellington, the Ibis in Christchurch and the Novotel in Queenstown.
The deal was struck on a yield of just over 8 per cent and included new management agreements between Host and hotel operator Accor.
