The Auckland Hyatt Regency Hotel has been sold but it's not yet known who the new owner is.
The hotel was sold by the receiver of South Canterbury Finance, who is bound by a confidentiality agreement and cannot give any information about the transaction as yet.
Staff at the Auckland Hyatt Regency Hotel have been told it has sold, but not who has bought it.
The Australian Financial Review reported last month the hotel was sold to a New Zealand-based investor, rumoured, the paper says, to be Charles Pandey whose family business CP Group has interests in a number of hotels in this country.
It's being said the French-owned Accor Group, which already manages 28 hotels in this country, would be a good fit for managing the Hyatt.
Accor's New Zealand vice president Paul Richardson says the Hyatt is an iconic building and Accor would like to be considered as a manager for it.
Commercial realtor Jones Lang LaSalle says the hotel sold for close to $60 million and the sale is expected to be settled in January.
The Hyatt owes South Canterbury Finance $42 million - its single biggest liability - and any news of its repayment will be welcome.
