• EVT acquires QT Auckland, a premium lifestyle hotel, for NZ$87.5 million
• QT Auckland has established itself as one of New Zealand's leading hotels
• Acquisition aligns with EVT's strategy to grow earnings from its hotels division

EVT Limited ('EVT' or 'the Group') has announced the acquisition of QT Auckland, a premium lifestyle hotel located in Auckland's Viaduct precinct, for NZ$87.5 million (~A$76 million). QT Auckland is a 150-room hotel including 20 suites, designed and operated by EVT since opening in 2020. The hotel features a signature QT rooftop bar and the award-winning restaurant Esther. Since opening, QT Auckland has established itself as one of New Zealand's leading hotels, earning numerous industry accolades. This transaction aligns with EVT's strategy to grow earnings from its hotels division, in this case through targeted ownership of high-performing assets in key city locations. The QT brand now has a presence in key cities including Sydney, Melbourne, Perth, Queenstown, Auckland and Singapore, which supports future asset-light growth opportunities for the brand. QT has also expanded into regional markets with QT Gold Coast and the full-service management agreement at QT Newcastle. Furthermore, QT Parramatta, another managed property, is expected to open in 2027. The success of the QT brand delivering above market results and offering world-class food and beverage concepts has underpinned its recent international success with the opening of QT Singapore, the Group's first hotel in Southeast Asia. EVT's CEO, Jane Hastings, commented that the acquisition reinforces the company's commitment to growing earnings from owned hotel assets and advancing its broader hotel brand strategy. The acquisition is expected to complete early in the 2026 calendar year, subject to satisfaction of certain procedural conditions precedent. EVT also announced the sale of Rydges Geelong for $24.5 million, aligning with the company's strategy to recycle capital from non-core properties into strategic investments in key city hotels.

The QT brand's future growth is underpinned by a multi-pronged strategy: asset-light expansion, hotel management agreements, innovative brand extensions including the award-winning QT cabins, franchising, and portfolio optimisation. This approach positions QT to capture new markets, enhance brand value, and deliver sustained earnings growth.