Company News Summary
Auckland International Airport Develops New 5-Star Hotel at Auckland Airport
Original announcement: AIA New 5-star Hotel at Auckland Airport
Auckland International Airport and Tainui Group Holdings have announced an agreement to develop a new 5-star hotel adjacent to Auckland Airport's international terminal and the existing 4-star Novotel hotel. The new premium 250-room hotel will be operated by AccorHotels under the Pullman brand. The new hotel will trade as the Pullman Auckland Airport and will be developed in a 50:50 partnership with Tainui Group Holdings. As part of this agreement, Auckland Airport has increased its ownership stake in the Novotel hotel to 50%. Construction is expected to start by the end of 2017, with the hotel scheduled to open by late 2019. The Company is currently investing more than $1m every working day on infrastructure improvements.
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