AUCKLAND – A joint venture between hotel group Accor, Tainui Group Holdings and Auckland International Airport (AIAL) will see the development of a 260-room Novotel hotel at Auckland Airport, to be completed in time for Rugby World Cup 2011.
Tainui will act as lead developer and investor with a majority interest in the joint venture and AIAL will hold a minority interest.
The hotel will be developed on a long-term ground lease granted by AIAL and will be managed by Accor under its Novotel brand.
The total forecast completed cost is NZ $65million, including hotel construction estimated at approximately $45million. The deal remains conditional on project finance and construction tender.
The Novotel will add to Accor’s New Zealand network, which already comprises 27 hotels, including five in Auckland.
