PHOTO: Novotel New Plymouth Hobson Hotel – Accorhotels
NEW JOINT VENTURE ENTITY, NGĀMOTU, PURCHASES NOVOTEL NEW PLYMOUTH
Parininihi ki Waitōtara Inc (PKW), Te Atiawa Iwi Holdings LP (TAIHLP) – the commercial entity for Te Kotahitanga o Te Atiawa Trust, and Taranaki Iwi Holding LP (TIHLP) – the commercial entity for Te Kāhui o Taranaki Trust, are pleased to announce the acquisition of the Novotel New Plymouth Hobson Hotel (Novotel New Plymouth) and the business from current owner Philip Brown for a purchase price of NZ$23m, subject to earn-out targets achieved.
A new joint venture entity, Ngāmotu Hotels Limited Partnership (Ngāmotu Hotels LP), has been established to purchase and own the Novotel New Plymouth.
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