Millennium & Copthorne Hotels New Zealand completes Auckland hotel deal

Millennium & Copthorne Hotels New Zealand said it has completed its purchase of the Copthorne Hotel Auckland Harbourcity.

But in a filing to the Singapore Exchange, it said the price of the deal was confidential.

Millennium & Copthorne is funding the purchase with cash and a new loan facility.

The area around the Copthorne Hotel Auckland Harbourcity is now a focal point for entertainment and access to the Waitemata Harbour.

Millennium & Copthorne Hotels and Resorts now has three owned or leased properties in Auckland.

It also recently clinched a short-term management agreement for the Metropolis Hotel Auckland. – CNA/ms

Source : Channel NewsAsia – 30 Jun 2008

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