Thais to pay $52.5m for Duxton hotels

Amora Group of Thailand has settled a deal to buy Duxton hotels in Wellington and Auckland and at Okawa Bay near Rotorua for $52.5 million.

The three hotels were owned by Low Keng Huat (Singapore). It was reported in June that the company would continue to own Duxton hotels in Melbourne, Perth and Saigon.

Peter Coman, of Jones Lang LaSalle in Auckland, said more than $2.185 billion of Australian hotels had changed hands in the past 18 months and investors were now seeking property in New Zealand.