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

From Spas to Longevity: Phuket Evolves into a Global Wellness Tourism Leader

Category: Hotels|Real estate|Tourism, Posted:29 Nov 2024 | 08:10 am Wellness tourism is in great shape. One of the fastest growing areas of the tourism industry, the sector has grown from a niche market for committed health seekers to become a THB 219 trillion (USD 6.3 trillion) global powerhouse. At the heart of this revolution is Asia Pacific, which accounts for 30% of the worldwide […]
Read more

C9 Session Today On Phuket’s Wellness Sector for Hotels, Tourism and Real estate

Category: Hotels|Real estate|Tourism, Posted:27 Nov 2024 | 07:30 am There is still time to register for today’s C9 Session (Wednesday 27th November 2027, which will be held at the Amora Phuket Resort Bangtao. How is Longevity and a health-focused lifestyle changing the face of the wellness industry? Join us for a unique 90-minute learning session featuring experts from international medical wellness, tourism, resort and real […]
Read more

New Onyx and Equatorial JV Hotel for Kata Phuket

Category: Hotels|Real estate|Tourism, Posted:19 Nov 2024 | 09:27 am A new 180-room branded property, the EQ Phuket has been announced for Kata Beach. The property, which is located next to Club Med, was developed by a joint venture between Thailand’s Onyx Hospitality and Malaysia’s Equatorial Group. Investment into the project is THB2.5 billion (approximately USD72 million). Equatorial Group, a legacy Asian hotel group, has […]
SiaJai logo

Thailand's Leading Homecare Marketplace