SkyCity Entertainment agrees sale of The Grand Hotel
By The Weekly Edge desk ·
Summary
SkyCity Entertainment Group has signed a binding deal to sell The Grand Hotel in Auckland, with its business assets, to Eden Global Capital and Auckland City Collective for NZ$221 million. The sale needs approval from New Zealand's Overseas Investment Office and is expected to complete before the end of the year. SkyCity will keep running the hotel for the buyers until 30 June 2027, and the sale was first announced in September alongside the appointment of UBS to review wider options.
Why it matters
The sale remains subject to Overseas Investment Office approval, with SkyCity continuing to operate the hotel until 2027.