Millennium & Copthorne buys Brisbane Sofitel in joint venture for $191.7m

(Image: Accor)

Wed, 22 Mar 2023

Millennium & Copthorne Hotels New Zealand has signed a joint conditional purchase agreement to acquire the 416-room Sofitel Brisbane Central hotel for A$177.7 million (NZ$191.7m) from alternative investment group Brookfield Asset Management.The agreement represents a 50:50 investment between the NZ stock exchange-listed Millennium & Copthorne (MCK) and its parent, Millennium & Copthorne Hotels, both subsidiaries of Singapore-listed City Developments.MCK managing director Stuart Harrison said the acquisition was strategic and would e...

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