The Stamford Plaza to fly the JW Marriott flag in Auckland with NZD$20 m refurbishment
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The Stamford Plaza to fly the JW Marriott flag in Auckland with NZD$20 m refurbishment
Marriott International signs agreement to introduce its JW Marriott brand to New Zealand with a rebrand of the 286 room Stamford Plaza hotel Auckland co-owned by CP Group, global investment firm Alvarium Investments through its locally owned Auckland office and Archipelago Capital, and will under go a phased NZ$20m refurbishment to reopen December 16, 2022.
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MarriottThe Stamford Plaza to fly the JW Marriott flag in Auckland with NZD$20 m refurbishment
Marriott International, Inc., announced it has signed an agreement with Albert Street Operations Ltd to introduce its JW Marriott brand to New Zealand. The property, currently known as Stamford Plaza, is slated to be fully converted into Marriott’s JW Marriott brand by mid 2024.
The iconic city hotel co-owned by CP Group, global investment firm Alvarium Investments through its locally owned Auckland office and Archipelago Capital, will undergo a NZ$20m refurbishment in phases, and is expected to reopen on December 16, 2022.
With its prime CBD location, JW Marriott Hotel Auckland is expected to bring its signature luxury brand, inspired by the principle of mindfulness, to Auckland. The 286-room hotel will delight guests with warm and thoughtful service and encourage them to be fully present - taking mindful moments that help them revitalize mind, body and spirit, and celebrate with family and friends.
“There are now more than 100 hotels in 35 countries and territories that carry our founder’s name, JW Marriott. This latest signing is another example of Marriott’s dominant expansion in the region and a testament to our confidence in the recovery of travel, particularly the luxury market which we believe is set to thrive in Australia, New Zealand and Pacific region,” said Richard Crawford, Vice President of Hotel Development for Australia, New Zealand, and Pacific, Marriott International.
Alvarium Investments Founder and global Co-Chair, Andrew Williams agreed it was an opportune time to capitalise on current market conditions.
“We see New Zealand as a secure real estate market, buoyed by a rebounding hospitality and tourism sector, and well-positioned post the peak of the pandemic. This co-investment aligns with our long-term approach of working with teams that have a proven high-performing record to drive returns for our clients and our firm through timely investment opportunities. We are proud to introduce the iconic JW Marriott brand into the Auckland market with our partners CP Group and Archipelago Capital."
Managing Director of CP Group, Prakash Pandey, said, “we couldn’t be happier to be commencing a partnership with Marriott International. As the world’s largest hotel company, they have the proven power to deliver the very best commercial outcomes for this landmark asset. Importantly to us, Marriott are the global leaders in luxury hotels and I am confident that together we will deliver a new standard of hospitality excellence in the Auckland market.”
JW Marriott Hotel Auckland is anticipated to feature an executive lounge and lobby bar, 100-seat buffet restaurant and a smaller speciality dining venue that will extend a culinary offering to truly nourish the body. A 320m2 function space and four meeting rooms will allow guests to connect socially over meaningful gatherings. In addition, the property will include an indoor heated swimming pool, large fitness centre, spa and sauna. There are also plans to introduce the brand’s signature JW Garden, a thoughtful, multi-sensory experience, that will support the hotel’s culinary programs.
Sean Hunt, Area Vice President, Australia, New Zealand and Pacific, Marriott International noted, “Marriott International is committed to growing our luxury portfolio, with New Zealand being one of our top priorities. The introduction of the JW Marriott brand in New Zealand reflects our confidence in the Australian, New Zealand and Pacific luxury market, and follows the success of the JW Marriott Gold Coast, as well as the forthcoming openings of W Sydney, The Ritz Carlton Melbourne and the St Regis Gold Coast.”
As reported on 11 October 2022 in The Hotel Conversation, The Stamford Plaza Auckland sold for NZ$170m by JLL Hotels & Hospitality Group's Nick Thompson and is the largest ever single hotel asset sold in New Zealand.
Click below to read more about the transaction.
JLL closes largest sale of a single hotel asset in New Zealand history | The Hotel Conversation
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