Outrigger sells six Asia resorts to Thai developer
Resort operator Outrigger has offloaded six hotel assets in Asia to Thailand based Singha Estate Public Company Limited.
The Hawaii company will pocket about $310 million and will continue to operate the resorts.
Singha Estate acquires Outrigger Laguna Phuket Beach Resort and Outrigger Koh Samui Beach Resort in Thailand, Outrigger Fiji Beach Resort and Castaway Island in Fiji, Outrigger Mauritius Beach Resort, and Outrigger Konotta Maldives Resort.
"We believe that this strategic investment and acquisition of Outrigger resorts in four countries will generate recurring income and further diversify the company’s profile," said Singha’s CEO Naris Cheyklin.
When the deal is complete Singha Estate’s hospitality business portfolio will swell to 4,644 room keys.
"These newly added six properties will further elevate the portfolio of S Hotels & Resorts to a new level. Our guests can truly relax, play, work, and enjoy a unique experience in quality settings around the world," said Dirk De Cuyper, chief hospitality officer of Singha subsidiary S Hotels & Resorts.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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