By Sharen Kaur
KUALA LUMPUR: YTL Corp Bhd's hospitality arm, YTL Hotels, has expanded its global portfolio with the acquisition of New Zealand's second tallest hotel, the newly built 225-room Hotel Indigo Auckland for about RM388 million, marking its first hotel investment there.
McVay Real Estate, in conjunction with Whillans Realty Group, facilitated the sale of the property on behalf of Ninety-Four Feet. It is New Zealand's second-largest single hotel asset transaction on record, underscoring both the country's tourism recovery and YTL Hotels' confidence in its long-term potential.
The property reportedly drew strong interest from both local and international investors, attracted by its exceptional architectural design, panoramic city views, and the limited availability of comparable hotels in the current market.
The property, which opened as New Zealand's first Hotel Indigo in April, forms part of a new 41-level mixed-use tower and is a short walk to Auckland's major office buildings, the soon-to-open Aotea Train Station and New Zealand International Convention Centre, Sky Tower Casino and Britomart precinct.
Datuk Mark Yeoh, executive director of YTL Hotels, said the acquisition reflects the group's enduring commitment to the Asia-Pacific hospitality market, highlighting its belief in New Zealand's resilient visitor economy and strong tourism fundamentals.
He views New Zealand as a strategic gateway market within the region, benefiting from its stable economy, robust international connectivity, and increasing demand for premium travel experiences.
"At YTL Hotels, we have always sought to create treasure places, treasured moments – destinations that connect people and celebrate their surroundings. We see that same spirit here in New Zealand. This milestone reflects our confidence in the country's visitor economy and our commitment to building lasting partnerships that bring meaningful value to the communities we invest in," Yeoh said.
The agreement includes a 25-year hotel management contract with IHG Hotels & Resorts, solidifying YTL Hotels' long-term commitment to the region's tourism and hospitality sector.
Hotel Indigo will join YTL Hotels' prestigious portfolio of luxury and lifestyle properties across Asia, Europe, and Australia – including The Gainsborough Bath Spa in the UK, The Ritz-Carlton Koh Samui in Thailand, and The Majestic Hotel Kuala Lumpur.
The acquisition was among two major Malaysian investments announced during the visit of New Zealand Prime Minister Rt Hon Christopher Luxon to Malaysia this week – the other being in the renewable energy sector by Yinson Renewables.
Both deals were officiated by Luxon, New Zealand Minister of State for Trade and Investment Nicola Grigg, and Malaysia's Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
According to a statement by Invest New Zealand, both projects have received approval from the country's Overseas Investment Office. Its general manager, Benny Goodman, said such investments reinforce New Zealand's reputation as a credible destination for global capital and demonstrate investor confidence across diverse sectors.
Yinson Renewables unveiled plans to invest in New Zealand's clean energy sector with a pipeline of renewable energy projects totalling around 1 GW.
The company, which has been developing wind projects in New Zealand for the past four years, is working closely with Invest New Zealand to advance its initiatives.
"We have a long-term commitment to New Zealand and we remain dedicated to working collaboratively with the government, local partners and communities to support the country's renewable energy ambitions," said Lim Han Weng, group executive chairman of Yinson.
Source: https://www.nst.com.my/property/2025/10/1305195/ytl-hotels-makes-new-zealand-debut-rm388mil-hotel-indigo-acquisition-watch
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