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Singha Estate pays US$310M to settle purchase of 6 hotels

Singha Estate PCL on June 12 closed the acquisition of six Outrigger-branded hotels across four countries under a US$310 million deal.

The purchase of the six hotels in Fiji, Thailand, Mauritius and the Maldives, is part of the Thailand-based property developer and investor's strategic investment approach, with a focus on investing in high-return properties in emerging global tourist destinations.

The transaction also paved the way to speed up Singha Estate subsidiary S Hotels and Resorts (SC) Co. Ltd.'s planned IPO in 2019 that would make the unit a global holding company.