Ong Beng Seng’s Hotel Properties Limited expands global portfolio with InterContinental Auckland

Quick Summary:

The acquisition is valued at $138.5 million and is subject to final completion.

The sector is expected to grow even more in the coming years as the New Zealand government actively promotes the appeal of the city as a world-class destination for leisure and business.

Mr Lau added: “With ample headroom to expand to 196 rooms by repurposing the current office space if needed, we are also strategically positioned to meet future demand.

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Article Details

Author / Journalist: Alyssa Woo

Category: EconomyBusiness

Markets: SingaporeJapanMalaysiaMaldivesNew ZealandOman

Topics: Asset Zealand Hospitality Auckland Hotels First Acquisition Property Company Intercontinental Limited

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-04 @ 20:01:32 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 440 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 26662390

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