Auckland’s Stamford Plaza Hotel, which sold for a record $170 million late 2022 will transition to a Marriott International property with a major refurbishment planned over the next 18 months.
Following a recent signing with Albert Street Operations Ltd, the property is expected to be fully converted to be a JW Marriott branded hotel by mid-2024 and will undergo a $20 million refurbishment, in phases.
Richard Crawford, Marriott International Vice President of Hotel Development for Australia, New Zealand, and Pacific said the signing of JW Marriott Hotel Auckland is another positive step forward.
“There are now more than 100 hotels in 35 countries and territories that carry our founder’s name, JW Marriott,” Crawford said.
“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.”
The property, which is co-owned by CP Group, Alvarium Investments and Archipelago Capital, will feature 286 rooms of luxury accommodation, an executive lounge and lobby bar, 100-seat buffet restaurant, as well as a smaller speciality dining venue. The brand’s signature JW Garden will allow guests to grow herbs and ingredients as part of the culinary journey.
There are also plans to include a 320m2 function space, four meeting rooms, an indoor heated swimming pool, large fitness centre, spa, and sauna. The brand’s principle of mindfulness will be an important element of the guest experience, according to Marriott.
“The resurgence in affluent domestic travel has been a major driver of Marriott’s current record period of expansion in the Australia Pacific region,” he said.
“Notably, W Brisbane, W Melbourne, The Ritz-Carlton Perth, JW Marriott Gold Coast and The Tasman (a Luxury Collection Hotel), have been our most resilient performers, throughout our industry’s most challenging time.
“Record average room rates at these hotels has given confidence to hotel developers, who recognise there is now a strong business case for luxury hotels in our region. This investor appetite has seen Marriott announce new-build St. Regis and Ritz-Carlton resorts on the Gold Coast in recent in weeks, in addition to the landmark signing of the JW Marriott Hotel Auckland deal.
CP Group Managing Director, Prakash Pandey, expressed his confidence in the brand and partnership.
“As the world’s largest hotel company, [Marriott has] the proven power to deliver the very best commercial outcomes for this landmark asset,” he said.
“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.”
The New Zealand market is a key area of focus for Marriott, according to Area Vice President, Australia, New Zealand and Pacific, Sean Hunt.
“Marriott International is committed to growing our luxury portfolio, with New Zealand being one of the top priorities,” he said.
“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.”
Alvarium Investments also sees great opportunity in the New Zealand market.
“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,” said Alvarium Investments Founder and global Co-Chair, Andrew Williams.
“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.”
