Hawaii resort company sells 6 properties in $310M deal
HONOLULU (AP) - A Honolulu-based hotel company has sold six of its Asia-Pacific properties to a Thai-based property development and investment holding company for $310 million.
The Honolulu Star-Advertiser reports Outrigger Hotels and Resorts will continue to manage the properties in the 859-room deal with Singha Estate Public Co.
The deal includes Outrigger Laguna Phuket Beach Resort and Outrigger Koh Samui Beach Resort in Thailand, Outrigger Fiji Beach Resort and Castaway Island in Fiji, Outrigger Mauritius Beach Resort and Outrigger Konotta Maldives Resort.
Jeff Wagoner, company president and CEO, says the deal will "provide new capital for further expansion while retaining Outrigger's brand presence and management of world-class properties."
Outrigger oversees 37 properties representing about 6,500 hotel rooms.
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