Laguna Beach Resort Sold To Outrigger Group
The 254 room Laguna Beach Resort which was sold to private equity firm RECAP last year, has been conditionally sold to Outrigger Hotels and Resorts.
A closing for the transaction has been set for first quarter of 2013, which is when the upgrading of the resort is expected to complete.
Outrigger will reopen the property in the second quarter of this year.
Transaction activity remains high in Phuket, with another West Coast hotel put onto the market last week.