Thailand’s Singha Estate snaps up six Outrigger resorts for US$250mn

Beach Bure at Castaway Island in Fiji

Singha Estate, the property arm of Thai beer company Boon Rawd Brewery, last week announced it will buy six hotels across four countries from Hawaii-based Outrigger Hotels for US$250 million.

These properties are namely Outrigger Fiji Beach Resort and Castaway Island in Fiji; Outrigger Laguna Phuket Beach Resort and Outrigger Koh Samui Beach Resort in Thailand; Outrigger Mauritius Beach Resort; and and Outrigger Konotta Maldives Resort.

Beach Bure at Castaway Island in Fiji

The investment is outlined as part of Singha Estate’s strategy to “invest in hotels and resorts in prime tourist destinations” and “diversify the company’s geographic risk”, the company said in a statement.

The latest announcement comes on the back of recent deals signed by the Thai developer in Bangkok and the Maldives last year.

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