OUTRIGGER Hotels & Resorts has entered into an agreement to purchase the management rights and associated real estate assets of Holiday Inn Surfers Paradise.
The sale includes the management rights from Colryan for up to 414 hotel rooms, and the real estate assets from Seasilver Hotels comprising reception, conferencing areas, and restaurant and bar.
The deal is expected to be completed by end-2011 or early-2012, after which the property will be rebranded Outrigger Surfers Paradise.
The addition of Outrigger Surfers Paradise boosts Outrigger’s Australia portfolio to four properties, offering a total of 1,000 rooms.
