MCK completes purchase of The Mayfair Hotel Christchurch

MCK COMPLETES PURCHASE OF THE MAYFAIR HOTEL CHRISTCHURCH

Further to its announcement on 22 October 2024, Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) confirms that it has settled the purchase of The Mayfair Hotel Christchurch today.


The Mayfair Hotel - summary:

--Property interest = Freehold (opened in mid-2022)
155 Victoria St, Christchurch

--Number of rooms = 67 guest rooms and suites

--Purchase Price = $31,900.000 (plus GST)

--Other facilities = Cocktail Bar, Conference/ Meeting facilities , Café & kitchen.



The Purchase Price was settled with the drawdown of $30.0m under the company bank facility and the balance via available funds. A transition to a Millennium & Copthorne brand will be carried out over the months following completion and will be announced in due course.

-ENDS-
Issued by Millennium & Copthorne Hotels New Zealand Limited

For investor relations enquiries, please contact:
Stuart Harrison, Managing Director M: +64 21 869 216


About Millennium & Copthorne Hotels New Zealand Limited
Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) is the only NZX listed hotel owner – operator with 18 owned / leased / franchised hotels based in New Zealand under the Millennium, Grand Millennium, M Social, Copthorne and Kingsgate brands. As part of the Millennium & Copthorne Hotels group, we are proud to be part of a global network of over 120 properties in gateway cities across Asia, Europe, North America, the Middle East and New Zealand. MCK is also the majority shareholder in land developer CDL Investments New Zealand Limited (NZX:CDI) and also has property interests in Australia through its Kingsgate Group subsidiaries including a 50% ownership interest in the Sofitel Brisbane Central through a joint venture.
For more information, visit our website: www.millenniumhotels.co.nz

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Announcement PDF