EVT’s Portfolio Shift: Risks and Rewards of Owning QT Auckland

Strategic Acquisition in Auckland

EVT Limited has announced the acquisition of QT Auckland, a premium lifestyle hotel located in Auckland’s vibrant Viaduct precinct, for NZ$87.5 million (approximately A$76 million). This move secures long-term ownership of a flagship property that EVT has operated since its opening in 2020, marking a significant step in strengthening the Group’s owned hotel portfolio in key urban markets.

QT Auckland, featuring 150 rooms including 20 suites, is renowned for its distinctive design and high-end offerings such as the signature rooftop bar and the acclaimed Esther restaurant. The hotel has garnered multiple industry awards, underscoring its status as one of New Zealand’s leading hospitality venues.

Aligning with Growth and Brand Expansion

The acquisition aligns with EVT’s broader strategy to grow earnings through ownership of high-performing hotel assets in strategic locations. The QT brand now boasts a presence in major cities across Australia, New Zealand, and Southeast Asia, including Sydney, Melbourne, Perth, Queenstown, Auckland, and Singapore. This geographic footprint supports EVT’s ambition for both asset-light expansion and selective ownership, balancing operational control with growth opportunities.

EVT’s CEO Jane Hastings highlighted the strategic importance of this acquisition, noting that it complements the upcoming conversion of the Queenstown property to the QT brand. Auckland’s role as a key feeder market for international visitors to Queenstown further enhances the value proposition of owning QT Auckland.

Capital Recycling and Portfolio Optimization

In tandem with the acquisition, EVT announced the sale of Rydges Geelong for $24.5 million. Classified as a non-core asset, this divestment is part of EVT’s ongoing capital recycling strategy, redirecting resources from peripheral properties into strategic city hotels that promise stronger earnings and brand synergy.

Both transactions are expected to complete early in 2026, subject to customary conditions. This disciplined approach to portfolio management reflects EVT’s focus on optimizing asset quality and positioning the Group for sustained growth.

QT Brand’s Rising Profile and Future Prospects

The QT brand continues to build momentum, with recent international recognition such as QT Singapore’s inclusion on TIME Magazine’s World’s Greatest Places 2025 list. The brand’s multi-pronged growth strategy includes asset-light expansion, management agreements, franchising, and innovative brand extensions like the award-winning QT cabins.

EVT’s track record of transforming diverse asset classes, from heritage buildings to new developments, demonstrates its operational expertise and commitment to delivering high-value hotel experiences. The QT Auckland acquisition is a clear signal of EVT’s confidence in the brand’s potential and its strategic focus on premium urban hospitality assets.