Outrigger Buys Three Hotels in Thailand
Category:
Hotels, Posted:19 Jul 2021 | 09:12 am
The US-based Outrigger Hospitality Group has bought three hotels in Phuket, Koh Samui and Khao Lak.
A portfolio deal, the properties had been under Manathai and will be converted to Outrigger.
The new names of the hotels will be Outrigger Koh Samui Beach Resort, Outrigger Khao Lak Beach Resort and Phuket Manathai by Outrigger.
Given the continued downturn in Thailand’s hospitality market, it’s expected that a rise in hotel sales will be seen in the 3rd and 4th quarter of this year.
For Outrigger, the acquisition marks the return of the brand to the country, specifically in Phuket and Koh Samui where in the past it sold two assets.
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