Thai hotel group invests in Australia’s north
14 Aug 2015
Thailand’s Minor Hotel Group has announced its first deal in Australia’s Northern Territory with the A$57.1 million acquisition of Elan Soho Suites in Darwin.
A 301-room hotel completed in 2014, the property is being rebranded the Oaks Elan Darwin.
Dillip Rajakarier, CEO of the Minor Hotel Group, said that the acquisition is part of the company’s business expansion strategy which focuses on making strategic investments in Australia and that the decision to purchase in Darwin was a natural progression for the company as they continue to expand their foothold in key Australian markets.
‘Darwin is a unique destination with strong demand from the corporate and government sectors,’ he said. ‘We also saw a major long-term growth opportunity with Darwin’s domestic leisure market, which grew more than ten per cent over the past year.’
Mr Rajakarier added that as the gateway to South East Asia, ‘Darwin is an increasingly popular destination with international visitors, so we welcome the opportunity to target these inbound overseas markets’.
Since acquiring the Oaks brand in 2011, the Minor Hotel Group has opened the Oaks Oasis on the Sunshine Coast, and the Oaks Grand Gladstone and neighbouring Grand Hotel – all in Queensland – and the Cypress Lakes Resort in the Hunter Valley, New South Wales.
Oaks Hotels & Resorts currently has a portfolio of 51 properties in Australia, as well as properties in New Zealand, Thailand the United Arab Emirates.
Minor International Pcl, the Minor Hotel Group’s parent company, is one of the largest hospitality and leisure companies in the Asia-Pacific region with over 120 hotels and resorts.