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Don't know if it will impact the associate resort status in FF.
Jya-Ning
Outrigger to Pursue Other Opportunities in Australia, New Zealand and Asia
Press Release: Outrigger Enterprises
August 24, 206
HONOLULU, HI -- Outrigger Enterprises Group has entered into an agreement to sell selected operations in Australia and New Zealand to MFS Limited, a publicly-held Australian investment firm. The transaction is expected to close before the end of the year.
The transaction includes the sale of management and letting rights -- and associated real estate interests -- for 13 properties Outrigger manages in Australia and New Zealand, plus the management rights for six additional projects currently under development. The Outrigger brand and the right to use it, and Outrigger's other Pacific operations - including six properties operating or under development in Bali, Fiji, Tahiti and Guam - are not included in the transaction.
"While this was a difficult decision to make, this will support our long-range vision of continuing to strengthen and grow Outrigger, and to position the company as a regional leader in hospitality, retail and development," said David Carey, President and Chief Executive Officer of Outrigger Enterprises Group.
"We will use the proceeds received from the transaction to reinvest in new opportunities in both Australia and New Zealand, as well as other markets throughout the Asia Pacific region," added Carey. "We have a deep aloha for the people of Australia and New Zealand, and this transaction does not change our commitment to that very special part of the world," Carey added. "We are actively seeking to identify other opportunities in Australia and New Zealand and Asia where we can bring the Outrigger brand - and our reputation for exemplary service and hospitality - to that market," Carey added.
None of Outrigger's Hawaii employees is expected to be impacted by the sale; MFS will retain all Australia and New Zealand employees who want to continue working with the new owners. Additionally, Outrigger will continue taking reservations for the properties until operations are transferred to MFS.
"It will be business as usual at all of the properties. We will be working closely with MFS to ensure a smooth and seamless transition to the new management group on behalf of both our employees and our guests," Carey added.
Once the asset sale is completed, each resort will be rebranded by MFS using one of the brands owned by the MFS Tourism operator Stella Resorts Group.
Outrigger originally entered the Australia and New Zealand markets in 1998 as part of a broader expansion into the South Pacific. Today Outrigger Enterprises Group operates, or has under development, six other properties in the Pacific region - including Fiji, Bali, Tahiti and Guam.
"Our company has a reputation for delivering consistently superior guest satisfaction and above-market financial results over the long term, and we plan to continue that tradition" said Carey.
Outrigger Hotels & Resorts is a family-owned and operated company deeply committed to providing authentic island hospitality in premiere destinations throughout the Pacific. Each Outrigger property embraces the local culture to create a true sense of place for guests. Outrigger Hotels & Resorts and OHANA Hotels & Resorts are divisions of Outrigger Enterprises, Inc., Hawaii's largest locally owned hospitality-company and one of the fastest-growing hotel companies in the Pacific managing over 50 properties with more than 12,000 rooms in Hawaii, Australia, Micronesia, Fiji, Tahiti and New Zealand.
The Stella Resorts Group manages and markets more than 60 branded properties throughout Australia and New Zealand including Balé Resorts, Peppers Retreats, Resorts and Hotels, Mantra Hotels, Resorts and Apartments, BreakFree Hotels, Resorts and Apartments and Ambia Villas and Apartments.
Press Release: Outrigger Enterprises
August 24, 206
HONOLULU, HI -- Outrigger Enterprises Group has entered into an agreement to sell selected operations in Australia and New Zealand to MFS Limited, a publicly-held Australian investment firm. The transaction is expected to close before the end of the year.
The transaction includes the sale of management and letting rights -- and associated real estate interests -- for 13 properties Outrigger manages in Australia and New Zealand, plus the management rights for six additional projects currently under development. The Outrigger brand and the right to use it, and Outrigger's other Pacific operations - including six properties operating or under development in Bali, Fiji, Tahiti and Guam - are not included in the transaction.
"While this was a difficult decision to make, this will support our long-range vision of continuing to strengthen and grow Outrigger, and to position the company as a regional leader in hospitality, retail and development," said David Carey, President and Chief Executive Officer of Outrigger Enterprises Group.
"We will use the proceeds received from the transaction to reinvest in new opportunities in both Australia and New Zealand, as well as other markets throughout the Asia Pacific region," added Carey. "We have a deep aloha for the people of Australia and New Zealand, and this transaction does not change our commitment to that very special part of the world," Carey added. "We are actively seeking to identify other opportunities in Australia and New Zealand and Asia where we can bring the Outrigger brand - and our reputation for exemplary service and hospitality - to that market," Carey added.
None of Outrigger's Hawaii employees is expected to be impacted by the sale; MFS will retain all Australia and New Zealand employees who want to continue working with the new owners. Additionally, Outrigger will continue taking reservations for the properties until operations are transferred to MFS.
"It will be business as usual at all of the properties. We will be working closely with MFS to ensure a smooth and seamless transition to the new management group on behalf of both our employees and our guests," Carey added.
Once the asset sale is completed, each resort will be rebranded by MFS using one of the brands owned by the MFS Tourism operator Stella Resorts Group.
Outrigger originally entered the Australia and New Zealand markets in 1998 as part of a broader expansion into the South Pacific. Today Outrigger Enterprises Group operates, or has under development, six other properties in the Pacific region - including Fiji, Bali, Tahiti and Guam.
"Our company has a reputation for delivering consistently superior guest satisfaction and above-market financial results over the long term, and we plan to continue that tradition" said Carey.
Outrigger Hotels & Resorts is a family-owned and operated company deeply committed to providing authentic island hospitality in premiere destinations throughout the Pacific. Each Outrigger property embraces the local culture to create a true sense of place for guests. Outrigger Hotels & Resorts and OHANA Hotels & Resorts are divisions of Outrigger Enterprises, Inc., Hawaii's largest locally owned hospitality-company and one of the fastest-growing hotel companies in the Pacific managing over 50 properties with more than 12,000 rooms in Hawaii, Australia, Micronesia, Fiji, Tahiti and New Zealand.
The Stella Resorts Group manages and markets more than 60 branded properties throughout Australia and New Zealand including Balé Resorts, Peppers Retreats, Resorts and Hotels, Mantra Hotels, Resorts and Apartments, BreakFree Hotels, Resorts and Apartments and Ambia Villas and Apartments.
Jya-Ning