EVT Limited (ASX: EVT) strengthens its hotel portfolio with a strategic NZ$87.5 million acquisition of QT Auckland. The premium lifestyle hotel sits in Auckland’s sought-after Viaduct precinct. This EVT Limited ASX acquisition marks a significant step in the Company’s plan to grow earnings through owned assets.
The QT Auckland hotel acquisition announcement also revealed the sale of Rydges Geelong for AUD 24.5 million. The dual transaction demonstrates EVT’s focused approach to capital recycling. The Company redirects funds from non-core properties into high-performing city hotels through this EVT hotel portfolio expansion.
What Makes This EVT Limited ASX Acquisition Strategic?
The QT Auckland hotel acquisition involves a 150-room property, including 20 luxury suites. EVT designed and operated the hotel since its 2020 opening. The property features a signature rooftop bar and the award-winning Esther restaurant.
QT Auckland has earned recognition as one of New Zealand’s leading hotels since its launch. The property secured multiple industry accolades, including Hotel Brand of the Year at the 2025 HM Awards. It also won Best Hotel at the 2025 Lion Hospitality New Zealand Awards for Excellence.
Deal Timeline and Financial Structure Behind EVT Hotel Portfolio Expansion
The NZ$87.5 million transaction equates to approximately AUD 76 million at current exchange rates. Completion is expected in early calendar year 2026. The EVT Limited ASX acquisition remains subject to certain procedural conditions precedent being satisfied.
This EVT hotel portfolio expansion aligns with the Company’s long-term brand presence strategy. The investment secures ownership of a flagship property in a key international location. Auckland serves as a major feeder market for Queenstown visitors.
QT Brand’s Impressive Multi-City Footprint
The QT brand now operates in key cities including Sydney, Melbourne, Perth, Queenstown, Auckland and Singapore. This geographic spread supports future asset-light growth opportunities. Regional expansion includes QT Gold Coast and a full-service management agreement at QT Newcastle.
QT Parramatta, another managed property, is scheduled to open in 2027. The brand delivers above-market results through world-class food and beverage concepts. This performance underpins international expansion efforts following the QT Auckland hotel acquisition.
QT Singapore Puts Brand on Global Map
QT Singapore marked the Company’s first hotel in Southeast Asia. The property quickly garnered global recognition since opening. TIME Magazine named it the only Singapore hotel on the World’s Greatest Places 2025 list.
The QT brand demonstrates versatility across diverse asset classes. Successful projects include heritage building transformations in Sydney and Newcastle. The brand also excels in adaptive reuse of commercial buildings and new-build developments.
Award-Winning Performance Validates QT Auckland Hotel Acquisition
QT Auckland’s signature rooftop bar won Best Bar at the 2025 Lion Hospitality Awards. The venue also secured New Zealand Hotel Bar recognition at the 2025 HM Aotearoa-Pacific Awards. These accolades demonstrate the property’s competitive positioning in the market.
Esther Restaurant, the hotel’s signature dining venue, earned recognition with a Chef’s Hat. The restaurant received this honour at the New Zealand Cuisine Good Food Awards. The hotel’s chef for Esther also won recognition at the 2025 HM Aotearoa-Pacific Awards.
EVT Offloads Rydges Geelong to Fund EVT Hotel Portfolio Expansion
EVT announced the sale of Rydges Geelong for AUD 24.5 million, simultaneously with the EVT Limited ASX acquisition. The property was previously designated as a non-core asset. This divestment aligns with the ongoing strategy to recycle capital into strategic investments.
Completion of the Rydges Geelong sale is anticipated in January 2026. The transaction demonstrates disciplined portfolio management supporting the EVT hotel portfolio expansion strategy. The Company prioritises high-performing city hotels over regional properties with limited growth potential.
CEO Reveals Vision Behind This EVT Limited ASX Acquisition
Jane Hastings, EVT’s CEO, expressed satisfaction with securing ownership of the flagship QT hotel. She emphasised the Company’s commitment to growing earnings from owned hotel assets through this EVT Limited ASX acquisition. The investment advances broader hotel brand strategy objectives.
Figure 3: Jane Hastings, EVT’s CEO.
Hastings highlighted the upcoming Queenstown property conversion to the QT brand. She described it as an exceptional property in one of EVT’s strongest markets. Auckland’s role as a key feeder market for Queenstown strengthens the strategic rationale behind the QT Auckland hotel acquisition.
How QT Plans to Expand Beyond Traditional Hotels
The QT brand’s future growth relies on several strategic pillars following this EVT hotel portfolio expansion. Asset-light expansion leads the approach alongside hotel management agreements. Innovative brand extensions include the award-winning qtQT cabins concept.
Franchising and portfolio optimisation round out the growth strategy. This approach positions QT to capture new markets effectively. The strategy enhances brand value while delivering sustained earnings growth opportunities.
QT’s Proven Success Across Different Property Types
The QT network has established a proven track record across diverse asset classes. Successful transformations include heritage buildings in Sydney and Newcastle. The brand excels in adaptive reuse of commercial buildings like the QT Auckland hotel acquisition demonstrates.
New-build properties in Melbourne, Perth and Queenstown showcase development capabilities. Each project has been strategically executed to create high-performing assets. This approach enhances the brand’s reputation for innovation and operational excellence.
EVT Share Price and Market Position
EVT Limited trades at AUD 12.800 per share on the Australian Securities Exchange. The Company holds a market capitalisation of AUD 2.12 billion. The stock’s 52-week range spans from AUD 10.940 to AUD 17.990 per share.
The EVT Limited ASX acquisition announcement demonstrates confidence in premium hotel assets. Investors monitoring the Company’s strategic repositioning note the focused capital allocation approach. The dual transaction provides clarity on management’s priorities for the EVT hotel portfolio expansion.
FAQs
Q1. What is the value of the EVT Limited ASX acquisition?
Ans. The EVT Limited ASX acquisition of QT Auckland is valued at NZ$87.5 million, approximately AUD 76 million.
Q2. When will the QT Auckland hotel acquisition be complete?
Ans. The QT Auckland hotel acquisition is expected to be completed in early calendar year 2026, subject to certain conditions.
Q3. How does this EVT hotel portfolio expansion strengthen the Company’s position?
Ans. This EVT hotel portfolio expansion secures ownership of a flagship property in Auckland’s premium Viaduct precinct location.
Q4. What is EVT selling as part of this EVT hotel portfolio expansion?
Ans. EVT is selling Rydges Geelong for AUD 24.5 million to fund the EVT hotel portfolio expansion.
