Hawaii-based hotel company Outrigger sold all Outrigger Australia properties to the Australian-based Mantra Group.
Nancy Daniels, Director of Public Relations, Outrigger Enterprises Group, confirmed today Outrigger Enterprises Group today signed an agreement with Mantra Group Limited to sell Outrigger Hotels and Resorts Australia Pty Ltd. (OHRA).
The sale includes all assets of OHRA, including the management rights to the four Australia properties currently in the Outrigger portfolio, which include Outrigger Surfers Paradise, Outrigger Twin Towns Resort, Outrigger Little Hastings Street Resort and Spa, and Boathouse Apartments by Outrigger.
As part of the agreement, with the exception of a few strategic personnel who will remain with Outrigger, all Outrigger employees at the OHRA office and affected properties will be retained by Mantra.
Outrigger also will continue taking reservations for the properties until operations are transferred to Mantra.
Today’s transaction does not include in any way the sale of the Outrigger brand name nor the right to use the Outrigger brand in Australia. The Outrigger brand continues to be owned by Outrigger Enterprises Group, based in Hawaii, USA
This is a strategic realignment of our portfolio to better match the Outrigger Resorts brand which focuses on premier beachfront destinations.
While our Australia portfolio included properties located in coastal destinations, they did not meet the criteria of being located directly on the beach.
This move by no means is an indication that Outrigger is leaving Australia. We are not in any way selling or franchising our brand. We have a strong connection with the people of Australia. Our newly established Australia Regional Sales and Marketing office in Sydney, led by Andrew Gee, demonstrates our commitment to the Australian market, which is key for us globally.
Outrigger will continue to seek out properties along the vast Australia coastline that fit the new Outrigger Resort brand standards.
Mantra Group is raising $50 million to fund its expansion program, that kicked off with the acquisition of the four Outrigger Hotels & Resorts in Australia.
As part of its growth, Mantra offers investors the ability to buy a room or apartment in its hotels and either live there or lease it back to Mantra as a hotel room investment. It also manages the Peppers resort in Seminyak, Bali.