A hotel well known to Kiwis and famous throughout the South Pacific has been sold to Chinese investors.
Aggie Grey's in Apia, Samoa has been sold by Aggie Grey's grandchildren and other family shareholders for $50 million.
Grey, born Agnes Swann, was a half English-half Samoan woman who opened the hotel in 1933. She hosted many notable actors, including Marlon Brando, and was friends with American writer James Michener.
Her hotel is now managed by Sheraton, a 175-room establishment which was completely rebuilt after a devastating cyclone in 2012. The sale includes the hotel's Black Sands casino.
Wellington commercial real estate agency Gollins Commercial brokered the sale and has actually sold it twice.
"When the head of Grey Investment Group, Fred Grey instructed us I immediately thought of an investor I met in Beijing in November 2016," Chris Gollins said.
"Sure enough he flew to Apia a fortnight later. After a second visit with his finance team he signed an unconditional contract. Then began the battle to get funds out of China, a battle he lost."
Gollins then found a second group, with funds invested out of China. Wellington immigration consultants Phoenix International were also involved and will manage the investment.
Rated 4.5 stars, Aggie Grey's regularly hosts international forums and conferences, having what's thought to be the largest conference facilities in the Pacific including a 495sqm ballroom.
A feature of the hotel is the more than 70 original bungalows which retain the original thatched roofs and carved beams, although furnished to an international standards.
The Black Sands casino has 24 gaming tables and 90 slot machines. Established primarily for tourists and a large Apia-based Chinese fishing fleet, the casino is by law only accessible to Samoan residents that hold a foreign passport.