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Singha Estate Public Company Limited Acquires Six Outrigger Properties

HONOLULU—Singha Estate Public Company Limited, a property development and investment holding company, has acquired six properties from the Honolulu-based hotel chain and management company, Outrigger Hotels & Resorts. The $310-million acquisition is part of Singha Estate’s strategic investment approach focused on the expansion and entry in high-yield tourist destinations around the globe.

With 70 years of hospitality development and management experience, Outrigger’s resort properties are dotted throughout Hawaii and the Asia-Pacific region.

“We believe that this strategic investment and acquisition of Outrigger resorts in four countries will generate recurring income and further diversify the company’s profile and geographical risk,” said Naris Cheyklin, CEO, Singha Estate Public Company Limited.

Outrigger will continue to manage the six properties: 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 in Mauritius; and Outrigger Konotta Maldives Resort in the Republic of Maldives.  

“With Singha Estate’s esteemed reputation as outstanding stewards of the properties and places in which it invests, Outrigger has full confidence that its premier resorts will continue in exceptional care. This asset sale and strategic partnership now provide new capital for further expansion while retaining Outrigger’s brand presence and management of world-class properties,” said Jeff Wagoner, president and CEO, Outrigger Hotels and Resorts.

The completion of the acquisition will raise Singha Estate’s hospitality business portfolio to a total of 4,644 room keys by the end of 2018, with 10 distinctive properties catered to visitors in global tourist destinations and a collection of 29 properties across the United Kingdom.

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