THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET 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.

propertytourism
By The 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.

BRITISH 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.

Have a news tip-off? Click here

 

Phuket community
Phuket tour bus oil leak fells motorcyclists

Poor driver, because his boss, the bus owner, didn't do proper maintenance checks, he has to tak...(Read More)


18 million meth pills seized in Chiang Rai

All fine PR, but I am waiting to read that drugs factories are destroyed, that the very top thai Hi-...(Read More)


Patong, Karon to be hit by water-supply outage throughout Christmas

Is this a joke? Or kind of negative tourist promotion during the Christmas Days. Something like: Don...(Read More)


Hunt for Phuket oil spill perpetrator underway

Why is it that always a Governor has to 'order' or to call on Department Chiefs to do their ...(Read More)


Doomed ‘Phoenix’ substandard: international experts

Well, the outcome of the international investigation asks for 1 important 'order' from Bangk...(Read More)


Doomed ‘Phoenix’ substandard: international experts

Every singel boats in phuket are built in a back yard, not a single tourist boat is built by any tha...(Read More)


Doomed ‘Phoenix’ substandard: international experts

So how many other substandard boats are out there? If there is one there are certainly plenty or oth...(Read More)


Hunt for Phuket oil spill perpetrator underway

Meh - the oil-ladened water is more sanitary than the stuff that isn't....(Read More)


Property owners to be targetted as fake goods raids hit Patong, Central

So, is the manager of Phuket Central Festival 'falling' under any thai act to arrest/fine hi...(Read More)


Phuket’s bypass roadworks to complete before New Year

The surface was fine and could easily have waited a couple of months until the roads (and everywhere...(Read More)