TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Singha Estate To Purchase Outrigger Phuket Hotel

Category: Hotels, Posted:03 Mar 2018 | 14:24 pm

Thai-listed group Singha Estate has entered into an agreement to purchase the 255-room Outrigger Laguna Phuket Beach Resort through affiliated entities.

In addition, the deal includes five other Outrigger flagged properties in Koh Samui Thailand, Maldives, Mauritius and Fiji. 

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. 

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 USD350 million, which covers debt and equity. (i.e, asset purchase of USD250 million and assumed debt up to USD100 million)

A completion date for the sale has been set for June 2018.

The asset value of the Laguna Phuket Beach Resort at the end of 2016 was THB3.3 billion.

As part of the deal, management under Outrigger Hotels and Resorts will be ongoing.

In 2016 Outrigger Hotels and Resorts was acquired by KSL Private Equity Partners (LLC) through an affiliate from the founders, Hawaii’s Kelley family.

 

 

 

 

Other News

Read more

The Future of Virtual Versus In-Person Hotel Events

Category: Hotels, Posted:25 Sep 2020 | 13:48 pm C9 Hotelworks and QUO have put together a short survey we hope you will take. As we look to the future of events for the hospitality and tourism sectors, we’re curious to understand more about your expectations and appetite. How far will you be willing to travel (if at all)? What subjects will you be […]
Read more

Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]
Read more

Condo Hotels and TPO’s Hitting Bangkok

Category: Hotels, Posted:20 Sep 2020 | 08:47 am Bangkok’s hospitality market is set rapid growth in the emergence of condo hotels and third party management operators (TPO’s). The trend is best seen with the recent launch of The Wyndham Queen Convention Centre Hotel and Residences in Bangkok operated by Kew Green Management Company Thailand. Kew Green has seven properties in the pipeline in […]