Accor and Mantra considering $25M Outrigger Resorts hotel portfolio buy

Accor and Mantra among a field of players jockeying to buy the management rights to Outrigger Resorts' entire Queensland, Australia portfolio in a deal worth approximately $25 million.

The four resort properties include the Outrigger Little Hastings Street Resort and Spa Noosa; Outrigger Twin Towns Resort, Coolangatta; Boathouse Apartments by Outrigger at Airlie Beach; and Outrigger Surfers Paradise.

Outrigger is selling the management rights itself — directly approaching several major hotel groups.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Founded by the Hawaiian-based Kelley family, Outrigger Resorts operate in Australia, ­Hawaii, Fiji, Thailand, Mauritius and the Maldives.

Suggested Articles

As it takes over franchise agreements and management contracts of Orbis' Central Europe hotels, Accor also is looking to divest its stake in the company.

Hotels in the country have reported growth in both revenue and profitability, but the outlook for further improvement in 2019 and beyond is uncertain.

The survey is open to hotel franchise/membership companies, multiunit hotel ownership companies, hotel management companies and hotel developers.