HPL says that the acquisition will allow it to expand its hotel portfolio in New Zealand.
The transaction will be funded by way of a third-party loan financing and internal resources.
HPL says that it is not expected to have any material impact on its net tangible assets per share based on the statements for the financial year ended Dec 31, 2024.
Shares in Hotel Propertiesclosed 1 cent higher or 0.279% up at $3.60 on Mar 4.
