EVT (ASX:EVT) has acquired QT Auckland, a premium lifestyle hotel in Auckland’s Viaduct precinct, for NZ$87.5 million, strengthening its owned hotel portfolio and long-term presence in a key strategic location.
The 150-room hotel, including 20 suites, has been designed and operated by EVT since opening in 2020 and features a signature QT rooftop bar and the award-winning restaurant Esther.
The acquisition aligns with EVT's strategy to grow earnings from high-performing hotel assets in major city markets and supports the continued expansion of the QT brand across Australia, New Zealand and internationally, including recent success in Singapore.
EVT expects the transaction to complete in early 2026, subject to customary conditions.
Separately, EVT announced the sale of the non-core Rydges Geelong property for $24.5 million, with completion expected in January 2026.
The divestment reflects the group's capital recycling strategy, redeploying funds from non-core assets into strategic city hotel investments such as QT Auckland.