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July 25, 2012

Outrigger Hotels and Resorts to acquire Laguna Beach Resort in Phuket, Thailand

Outrigger Hotels and Resorts has inked a deal to acquire the Laguna Beach Resort located in Laguna Phuket, Thailand.

By Srivani Venna

Outrigger Hotels and Resorts has inked a deal to acquire the Laguna Beach Resort located in Laguna Phuket, Thailand.

The 254-room Laguna Beach Resort, which was originally opened in 1991, features a spa, tennis courts, meeting and conference rooms, a wedding chapel, water features, a resort pool and a kids club.

According to Outrigger Hotels, the property is at present undergoing a refurbishment of all of its rooms and public areas and is expected to reopen early in the second quarter of 2013.

The Laguna Beach Resort, which is close to the airport and Patong Beach and Phuket town, is one of six deluxe resort hotels within the 1,000 acre Laguna Phuket integrated resort, and will be Outrigger’s second property in Laguna Phuket.

The resort will be an addition to the Outrigger Laguna Phuket Resort and Villas, which the company has managed since August 2009.

Outrigger Enterprises Group president and chief executive officer David Carey said the acquisition of Laguna Beach Resort will allow the company to bolster its presence in the Asia-Pacific resort market.

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"The Laguna Beach Resort will be Outrigger’s second property in Laguna Phuket."

"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," Carey added.

Outrigger hopes to close the transaction in the first quarter of 2013.

The US-based company, which is run by Outrigger Enterprises Group, has increased its presence to include properties currently open or under development in Bali and Phuket, as well as in Phi Phi island, Thailand; Sanya, Hainan Island, China; and Quy Nhon, Vietnam.

Outrigger Enterprises Group operates and/or has 45 properties under development with about 11,000 rooms located in Hawaii,Australia, Guam, Fiji, Bali, Thailand, Vietnam, and Hainan Island, China.

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