The Hyatt Regency Hotel brand is to disappear from New Zealand after Accor said it would take over management of the Auckland hotel and rebrand it under the Pullman name.
The Auckland hotel was sold last month by the receivers of South Canterbury Finance to an unknown party tipped to be interests associated with CP Group - a multimillionaire private Auckland family business.
Accor spokesman Peter Hook said he could not confirm the new owner of the hotel.
"It's a very complicated entity and the owner wants to remain confidential."
But Hook said he was confident the five-star Pullman brand would take off despite its being the first hotel to take on the name in New Zealand.
"Well when you think about it the Hyatt is a one-off in New Zealand."
The Pullman brand was started in 2007 and has 50 hotels with plans to increase that to 150 by 2015.
Hook said it was one of the fastest growing in the Asia Pacific region.
"We believe it [Pullman] has become a name in key source markets which is important. Beijing, Shanghai, Kuala Lumpur and Bangkok - it's very established in emerging markets."
The Auckland Pullman could be the first of a number of hotels under the new name in New Zealand.
"We are looking at a number of opportunities in Australia and New Zealand," Hook said.
The five-star brand was targeted at the business and conference market which sat underneath luxury.
Hook said the brand was a product of the tougher times with more people looking for a top business hotel than a luxury hotel.
The loss of the Hyatt name from Auckland is the latest step in the changing of the guard away from American hotel chains. The Sheraton departed New Zealand several years ago and has also shrunk in the Australian market.
The Hyatt brand will be dropped on January 20.
Meanwhile Accor has also taken over the management of Christchurch's Hotel So and will rename it All Seasons Christchurch Cashel Street. The hotel was developed by Dave Henderson who borrowed more than $20 million from South Canterbury Finance and is now bankrupt.
The two hotels will increase the number managed by Accor in New Zealand to 29.