FIFA WORLD CUP 2018 Kata Rocks
Login | Create Account Poll Currency Weather Facebook Youtube Search

Singha Estate acquires Outrigger Laguna Phuket, five other Outrigger properties

HOSPITALITY: Singha Estate Public Company Limited, Thailand’s premier property development and investment holding company, today (June 13) announced the successful acquisition of six spectacular properties including Outrigger Laguna Phuket Beach Resort from the Honolulu-based hotel chain and management company, Outrigger.

propertytourismThe Phuket News

Wednesday 13 June 2018, 05:44PM


Outrigger Laguna Phuket Beach Resort is one of six properties acquired by  Singha Estate Public Company Limited. Photo: Supplied

Outrigger Laguna Phuket Beach Resort is one of six properties acquired by Singha Estate Public Company Limited. Photo: Supplied

The US$310 million (B4.177 billion) acquisition is part of Singha Estate’s strategic investment approach focused on the expansion and entry in high-yield tourist destinations around the globe.

With 70 years of hospitality development and management experience, Outrigger’s resort properties are dotted throughout Hawaii and the Asia-Pacific region. With over 4,700 employees worldwide, Outrigger has been ranked 15th among the top 100 management companies in the US by Hotel Business Magazine.

“Singha Estate’s vision aims to drive the business to become a ‘premier property development and investment holding company’ generating revenue of B20bn by 2020. 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 and geographical risk,” said Naris Cheyklin, Chief Executive Officer, Singha Estate Public Company Limited.

Outrigger will continue to manage the six properties: 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 in Mauritius, and Outrigger Konotta Maldives Resort in the Republic of Maldives; with a total of 859 room keys.

QSI International School Phuket

These premier beachfront resorts represent up-and-coming tourist destinations globally in the Asia-Pacific, Oceania and Indian Ocean regions with high growth potential.

“With Singha Estate’s esteemed reputation as outstanding stewards of the properties and places in which it invests, Outrigger has full confidence that its premier resorts will continue in exceptional care. This asset sale and strategic partnership now provide new capital for further expansion while retaining Outrigger’s brand presence and management of world-class properties,” said Jeff Wagoner, President and CEO, Outrigger Hotels and Resorts.

The completion of the acquisition will raise Singha Estate’s hospitality business portfolio to a total of 4,644 room keys by the end of 2018, with 10 distinctive properties catered to visitors in global tourist destinations and a collection of 29 properties in some of the finest locations across the United Kingdom.

Dirk De Cuyper, Chief Hospitality Officer, S Hotels & Resorts, a subsidiary of Singha Estate PCL, concluded, “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”.

 

 

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

Comments Here:
Comments Left:
# Characters
Username:
Password:
E-mail:
Security:

Be the first to comment.

 

Phuket community
Phuket History: Sex in early Siam

Different culture does not mean accepting utter stupidity, at some point common sense must prevail, ...(Read More)


No special ‘temporary’ driver’s licences for tourists

Maybe the ambassador should educate his fellow countrymen first not to drive a bike if they never dr...(Read More)


Lifeguards warn of Portuguese man-o-war at Phuket beaches

"Did the governor order medical Phuket beach teams available to treat tourists,in case" Wh...(Read More)


Phuket History: Sex in early Siam

"..were ethnocentric Europeans with an extreme ignorance of SE Asian culture" Given some a...(Read More)


Post-funeral drunk driver survives slam into streetlamp

Another moron on the road. Hope, beside a 5000 thb fine or so, he loose his driving license for 5 ye...(Read More)


Tourists driving in Phuket: get legal, or get fined - or worse

Fine range 200 - 500 thb? Who decides that? The police man at road block? 200 thb for thai, 500 th...(Read More)


Phuket History: Sex in early Siam

What we read in the article we have to place it in at that time going on frame work. It is a interes...(Read More)


No special ‘temporary’ driver’s licences for tourists

So, as we expected, knowing a bit better than a vice governor about driving licenses, the Vice gover...(Read More)


Lifeguards warn of Portuguese man-o-war at Phuket beaches

Is the Phuket Governor also informed about this serious beach warning? Did the Governor order medi...(Read More)


No special ‘temporary’ driver’s licences for tourists

How about introducing a proper public transport service (network of buses) so tourists don’t have ...(Read More)