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Event Hospitality & Entertainment Ltd. ( (AU:EVT) ) has shared an announcement.
EVT Limited has agreed to acquire the QT Auckland hotel, a 150-room premium lifestyle property in Auckland’s Viaduct precinct that it has designed and operated since 2020, for NZ$87.5 million, securing long-term brand presence in a key New Zealand gateway market and further strengthening its owned hotel portfolio. The move forms part of EVT’s strategy to grow earnings from its hotels division by recycling capital from non-core assets—illustrated by the concurrent $24.5 million sale of Rydges Geelong—into strategic, high-performing city hotels, while supporting the expansion of the QT brand across major Australasian and Asian cities and underpinning future asset-light growth through management contracts, franchising and innovative brand extensions.
The most recent analyst rating on (AU:EVT) stock is a Buy with a A$17.30 price target. To see the full list of analyst forecasts on Event Hospitality & Entertainment Ltd. stock, see the AU:EVT Stock Forecast page.
More about Event Hospitality & Entertainment Ltd.
EVT Limited is an Australian-listed group operating across entertainment, hospitality and travel, with a significant focus on hotels under brands such as QT, Rydges and others. Its hotel division targets premium and lifestyle segments in key city and select regional markets, pursuing a strategy that blends ownership of high-performing properties with asset-light growth through management agreements, franchising and brand extensions.
Average Trading Volume: 181,872
Technical Sentiment Signal: Buy
Current Market Cap: A$2.18B
See more data about EVT stock on TipRanks’ Stock Analysis page.