TFE Hotels Partners New Zealand’s Heritage Hotels in a Multi-Property Management Agreement

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New Zealand, Auckland. November 08, 2024

TFE Hotels has partnered with New Zealand's leading accommodation provider, Heritage Hotels, in a multi-property management agreement that will see five hotels refurbished in the next few years and send a positive signal to the local accommodation sector amid a resurgent international tourism market.

Under the newly inked agreement, Heritage Hotels retains ownership of its portfolio in New Zealand. TFE Hotels will manage more than 500 rooms across five properties, including the Adina Citylife Auckland and Rendezvous Heritage Auckland.

In Wellington, the Adina CityLife Wellington will give TFE an apartment-style accommodation offering in the capital whilst in the south, the Rendezvous Heritage Hotel will re-establish a brand presence in Christchurch. The 175-room Rendezvous Heritage Queenstown rounds out the offering, delivering a strong MICE and leisure offering in New Zealand's adventure capital.

Heritage Hotels' Managing Director, Jeffrey Tang, said the partnership added value to New Zealand's economy and hotel sector, with plans already underway to upgrade all five hotels in a rolling refurbishment plan over the next few years.

"TFE Hotels is an owner, manager and developer and we see their impressive presence in multiple markets - which includes more than 50 properties in Australia, a strong pipeline* of properties and ties to Singapore and Europe - as complementary to our vision for the future. In partnering, we're bringing together two values-aligned, businesses and brands to work together in elevating guest experiences, strengthening our position in the competitive hospitality landscape, leveraging capability, and providing guests with a fresh, globally connected hotel experience."

Tang said Heritage Hotels would also benefit from TFE Hotels' global distribution systems and centralised service model.

TFE Hotels' Group Chief Operating Officer, Chris Sedgwick, said the partnership allowed TFE to establish a stronger presence in New Zealand and build a stronger platform for future growth."

"Auckland and Wellington are key target markets for us, with our Adina and Travelodge brands already well established. Plus, the reintroduction of the much-loved Rendezvous brand into New Zealand - through the Rendezvous Heritage Auckland, Rendezvous Heritage Christchurch and Rendezvous Heritage Queenstown - provides Asia Pacific scale to the portfolio and will see TFE venture into Otago for the first time."

Given the expanded presence, TFE Hotels will also establish a New Zealand Country Office in Auckland.

The partnership will support and offer expanded choice to international visitors to New Zealand, in line with tourism's upward trends post-pandemic.

Overseas visitor arrivals were 3.22 million in the July 2024 year, an increase of 604,000 from the July 2023 year. Visitors from Australia for this period were up 73,000 to 1.31 million.

TFE Hotels' Chief Executive Officer, Antony Ritch, said the partnership paid homage to the amazing work that Heritage Hotels has done in developing these assets and creating a strong New Zealand business.

"We look forward to working closely with Heritage Hotels and the local team to build on their stellar reputation with the continuation of a refurbishment programme across the portfolio," Ritch said.

The partnership comes as TFE Hotels prepares for a busy year ahead with the opening of The EVE Hotel, a 102-room boutique property, in Sydney this summer and the $150 million Hannah St. Hotel in Melbourne in the back half of 2025.

"The next 12 months are shaping up to be an important time for TFE as we continue to invest in technology and in growing our quality, design-led hotel portfolio in strategic locations. " As our New Zealand hotels continue to forecast robust revenue growth for the year ahead."

Beyond these five properties, Heritage Hotels and TFE Hotels will be seeking further opportunities to expand and develop together. There is also significant opportunity for professional development and growth for their valued and committed staff.