THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
Login | Create Account Poll Currency Weather Facebook Youtube Search

Singha Estate enters B11bn deal to buy Outrigger hotels, including Outrigger Phuket

PHUKET: Thai-listed group Singha Estate has entered into an agreement to purchase the 255-room Outrigger Laguna Phuket Beach Resort through affiliated entities, reports Bill Barnett of consultancy C9 Hotelworks.

transporteconomics
By The Phuket News

Sunday 4 March 2018, 02:19PM


The Outrigger Laguna Phuket Beach Resort is one of the six Outrigger-flagged resorts to be bought under the deal. Photo: Outrigger

The Outrigger Laguna Phuket Beach Resort is one of the six Outrigger-flagged resorts to be bought under the deal. Photo: Outrigger

The deal includes five other Outrigger flagged properties in Koh Samui Thailand, Maldives, Mauritius and Fiji, (See report here.)

“The portfolio outside of Phuket is Outrigger Konotta Maldives Resort 53-keys, Outrigger Koh Samui Beach Resort 52-keys, Outrigger Mauritius Beach Resort 181-keys, Outrigger Fiji Beach Resort 253-keys and Castaway island 65-keys,” noted Mr Barnett.

Subject to closing the asset purchase for the six hotels will be though Singha subsidiary S Hotels and Resorts (SC) Co. Ltd.

Consideration under the purchase in documents filed with the Stock Exchange of Thailand (SET) note that the total value of the deal not exceed US$350 million (more than B11 billion), which covers debt and equity, he added.

The news follows Hawaiian-based hospitality group Outrigger Hotels and Resorts through an affiliate have entered into a acquisition agreement with US-based KSL Capital Partners in 2016.

That sales and purchase agreement covered all 37 Outrigger properties, including the Asian and Indian Ocean portfolio in Thailand, Maldives and Mauritius, and the Outrigger Laguna Phuket Beach Resort in Cherng Talay, on Phuket’s west coast. (See story here.)

 

 

 

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
Board vetoes ban on hazardous chemicals

Astonishing inability of reading and comprehending.No,it's not defending some careless handling ...(Read More)


Taxi blames oil spill for wipeout

This is funny, how can RTP charge a driver for this happening due to a oils spill on the road ( duri...(Read More)


Patong Police Chief: Leave your valuables at home

Who in their right mind (anywhere in the world) will leave a bag with that amount of cash unattended...(Read More)


Police probe launched after Chinese tourist suffers DCS in ‘try dive’

The outfit running the tour should have been fully aware of the existence of "SSS Hyperbaric Ch...(Read More)


Phuket Opinion: Fear and loathing in paradise

Should be no problem for people who want to retire in Thailand, they just have to prove (not claim) ...(Read More)


Phuket Opinion: Fear and loathing in paradise

And if a person, for a sanitary emergency or for an accident needs to use part of the 400,000 baht, ...(Read More)


Koh Kaew OrBorTor tackles roadside dumping

Municipal refuse collection and recycling locations should be provided by every municipality. Somewh...(Read More)


Dozens of street racers, promoter arrested in Bangkok

What is the legal setting in Thailand regarding drugs/urine tests out there? When is it voluntarily ...(Read More)


Chalong Underpass makes breakthrough

That structure in Chalong circle centre is to much. Very ugly and bombastic/pompous. Wait for the da...(Read More)


Dozens of street racers, promoter arrested in Bangkok

Are there no racing circuit areas in Thailand for this hobby? Organise races, have a police unit the...(Read More)