Brookfield Asset Management, a leading global alternative asset manager with more than US$1 trillion in assets under management, has announced the acquisition of two hotels in New Zealand from NZ Hotel Holdings — the Rydges Wellington and the Sofitel Queenstown.
Located in the heart of New Zealand’s capital, Rydges Wellington boasts 280 contemporary rooms and suites with sweeping harbour and city views. The hotel features extensive conference facilities, a popular restaurant and bar, and easy access to government, corporate and leisure precincts.
The Sofitel Queenstown, situated in one of the Southern Hemisphere’s most popular tourism destinations, offers 84 luxury rooms and suites. It also includes a full-service spa, fitness and conference facilities, and multiple high-quality dining options.
The acquisition strengthens Brookfield’s hospitality platform in Asia Pacific, following its 2024 purchase of Hotel X in Brisbane and the acquisition of the Gajoen mixed-use complex in Tokyo, including the luxury Hotel Gajoen, which is currently under redevelopment.
Brookfield co-head of Australia Real Estate Ruban Kaneshamoorthy says the company is committed to expanding its high-quality hospitality platform across Asia Pacific.
“Rydges Wellington and Sofitel Queenstown are located in prime markets with strong long-term demand fundamentals,” Kaneshamoorthy says.
“Brookfield will invest approximately NZ$250 million to acquire and reposition the two assets, and we see significant potential to enhance their performance through active asset management and targeted capital investment. We continue to look for opportunities to deploy further global capital into New Zealand.”
Brookfield is a long-term investor in New Zealand, and currently has approximately NZ$1 billion in assets under management. In April 2025, the company entered into a joint venture with Tainui Group Holdings to develop the Ruakura Logistics Intermodal Superhub in Hamilton.
NZ Hotel Holdings chief executive officer Marcus Reinders says both hotels are exceptional assets in prime New Zealand destinations, with Sofitel Queenstown achieving a record price per key in New Zealand.
“We are confident they will continue to perform strongly under Brookfield’s ownership. The transaction reflects the quality of the assets NZ Hotel Holdings has developed, and the continued investor interest in well-located hotel properties in New Zealand.”
