SkyCity agrees non-binding sale of Auckland hotel, subject to due diligence
SkyCity Entertainment Group entered a non-binding agreement to sell The Grand Hotel at SkyCity Auckland, with cash proceeds expected by the end of 2026. The sale price remains confidential and depends on due diligence, binding sale documents and expected consent from New Zealand's Overseas Investment Office; SkyCity said proceeds would go towards debt repayment and financial flexibility.
The proposed sale could generate proceeds for SkyCity to repay debt, but remains subject to conditions and approval.