Outrigger Hotels to Acquire 254-Key Laguna Beach Resort

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Hawaii-based Outrigger Hotels and Resorts announced July 24 it has entered into an agreement to acquire the 254-Key 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."

Originally opened in 1991, the Laguna Beach Resort is nestled between a tropical lagoon and the Andaman Sea. The resort features amenities that include a spa, tennis courts, meeting and conference rooms, a wedding chapel, extensive water features and a resort pool. Each of the 254 rooms features a private balcony. A fully-equipped kids club makes the resort a perfect spot for families. 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.

"The Laguna Beach Resort will be one of the brightest jewels in the Outrigger portfolio, and we look forward to completing the renovations and opening this resort early next year," said Darren Edmonstone, managing director, Asia-Pacific, of Outrigger. "The addition of this iconic resort positions Outrigger extremely well in the growing Asia-Pacific region. The combination of the Laguna Beach Resort, with our existing management of the Outrigger Laguna Phuket Resort and Villas and the idyllic Outrigger Phi Phi Island Resort and Spa, creates exciting opportunities for guests who desire a luxury experience in premier leisure destinations in Asia."

The Laguna Beach Resort is one of six deluxe resort hotels within the 1,000 acre Laguna Phuket integrated resort, widely recognized as one of Asia's finest destination resorts, with five miles of pristine sandy beaches, the Laguna Phuket Golf Club, spas, restaurants and a retail shopping center.

Laguna Resorts & Hotels Public Company Limited, a public company listed on the Thai stock exchange, developed the Laguna Phuket integrated resort starting in the mid-1980s from the remains of an abandoned tin mine once thought to be too polluted to develop. Laguna Phuket has since won numerous environmental awards as a result of that successful effort.

Outrigger Enterprises Group, based in Honolulu, is one of the largest and fastest growing privately-held leisure lodging and hospitality companies in the Asia-Pacific and Oceania regions and continues to expand its presence throughout the area. A family-owned company with 65 years of hospitality experience, Outrigger runs a highly-successful, multi-branded line of hotels, condominiums and vacation resort properties, including Outrigger Hotels and Resorts, Ohana Hotels and Resorts, Embassy Suites, Best Western, and Wyndham Vacation Ownership.

Currently, Outrigger operates and/or has under development 45 properties with approximately 11,000 rooms located in Hawaii; Australia; Guam; Fiji; Bali; Thailand; Vietnam; and Hainan Island, China. Outrigger Enterprises Group also operates and develops hotel properties and hospitality-related retail and real estate opportunities for partners in Hawaii, the Pacific, and Asia.