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Outrigger Sell Australian Portfolio

Author: Bill Barnett. Category: Hotels. Posted: 24th Apr 2015

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Hawaii-based Outrigger Group has reportedly entered into an agreement with the Mantra group for the divestment of four properties in Australia.

The four hotels with a combined 984 keys are located in Surfers Paradise, Noosa, Airlie Beach and Coolangatta.

A rebranding will be done selectively between Mantra's core brand and their upscale Peppers moniker.

The deal is estimated at USD22.5 million and will convey management letting rights for the hotel-managed residences.

Outrigger has been widely quoted to be on the outlook to shift their focus on premium oceanfront resort on an acquisition basis.

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