New Zealand's Landmark Hilton Auckland Offered for Sale

"Having opened in July 2001, the Hilton Auckland has quickly established itself as the market leader. The profitability and occupancy of this hotel are considered exceptional having achieved an occupancy of 72.4% in its first full year of operation" said Mr Geordie Clark, Managing Director, Jones Lang LaSalle Hotels.

Comprising 166 rooms, the Hilton Auckland occupies an irreplaceable location on Princes Wharf in Auckland's central business district. Each guestroom includes a walk out balcony providing an outlook over the city skyline or harbour, an excellent vantage point to watch the America's Cup Challenge, according to owner David Henderson.

The hotel features the renowned fine dining restaurant White, voted "New Zealand Restaurant of the Year" by Eating Out Magazine in 2002. It also provides over 1,590 square metres of function space, including a waterfront exhibition floor unparalleled in the Auckland and New Zealand marketplace. Since opening, the hotel has hosted a variety of major events, including the Bill Clinton BMW 7 Series launch, the Mazda MX6 launch, the Juice TV Media/Video awards and the SAKS Summer/Spring Fashion Parade.

Other facilities include Bellini lounge bar, a gymnasium, swimming pool and the processing lounge for the Ports of Auckland (POAL) ocean passenger liner terminal.

Mr Batchelor, Executive Vice President said, "the sale of the Hilton Auckland coincides with the turnaround of the Auckland hotel market. With the lack of new competitive supply and strong inbound tourism growth, Auckland is widely perceived as entering a strong recovery phase. This represents an excellent opportunity to capitalise on the strong market outlook."

Auckland is New Zealand's number one tourist destination and international gateway. The country's reputation as a safe haven allowed it to achieve a 6.8% increase in international arrivals during 2001, a year during which global tourism declined due to the impact of September 11 and the US-led economic slowdown. This growth continued in 2002: latest available data demonstrates a 5.0% increase over the same previous period (year to date October 2002).

"We expect the offering to appeal to the global hotel investor market, with particular interest from Asia based hotel investment companies and high net worth individuals" said Mr Clark.

The Hilton Auckland is subject to a management agreement with Hilton International.

The Hilton Auckland has also received the following industry accolades:

• Rider Hunt Building Award for Excellence for Leisure and Tourism Property 2002 - Property Council of New Zealand
• One of the 52 Best New Hotels of the World 2001 - Conde Nast Traveller.

For further information, please contact Geordie Clark +61 2 9220 8778 or Mike Batchelor + 61 7 3231 1406. Click here for a factsheet of the hotel!

Jones Lang LaSalle Hotels, the world's leading hotel investment services group, provides clients with value-added investment opportunities and advice. Its recent two-year success story includes the sale of 13,994 hotel rooms to the value of US$1.4 billion in 48 cities and advisory expertise for 173,021 rooms to the value of US$32.6 billion across 343 cities. Jones Lang LaSalle Hotels' services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research. Jones Lang LaSalle JLL is the world's leading real estate services and investment management firm, operating across more than 100 key markets on five continents.