Outrigger Hotels to acquire second resort in Phuket, Thailand

Hawaii-based Outrigger Hotels and Resorts
announced today that it has entered into an agreement to acquire the
254-room Laguna Beach Resort located in the renowned Laguna Phuket
integrated resort on Bang Tao Bay on the northwest coast of Phuket,
Thailand. The transaction is scheduled to close in the first quarter of
2013.

“The
Outrigger name is already synonymous with tropical, beachfront, leisure
resort destinations; this acquisition of Laguna Beach Resort further
solidifies our brand positioning as we continue to build our presence in
the Asia-Pacific resort market,” said David Carey, president and chief
executive officer at Outrigger Enterprises Group.
“With three years of resort management experience in the Laguna Phuket
destination, we are confident that this new asset is a perfect fit for
our first major investment in the Asia-Pacific region.”

The resort is just 20-minutes from the airport and Patong Beach, and
25-minutes from Phuket town. The property is currently undergoing a
major renovation of all of its rooms and public areas and is expected to
reopen early in the second quarter of 2013. 

The Laguna Beach Resort will be the second property for Outrigger in Laguna Phuket, joining the Outrigger Laguna Phuket Resort and Villas, which it has managed since August 2009. Since
starting its Asian expansion a few years ago, Outrigger has grown its
presence to include properties currently open or under development in Bali and Phuket, the two most popular resort destinations in Asia, as well as in Phi Phi island, Thailand; Sanya, Hainan Island, China; and Quy Nhon, Vietnam

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