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Outrigger Plans New PacAsia PushMarch 5, 2007 By: Camie Foster Travel Agent
Honolulu-based Outrigger Enterprises Group says it plans to invest the proceeds of its recently concluded sale of hotel-management rights in Australia and New Zealand within--and beyond--those destinations. Outrigger intends to launch a chain of properties in Australia, New Zealand and elsewhere in Asia and the Pacific. "We intend to use the sale as a lever to re-enter the Australian short-stay accommodation market as soon as practical," says Dave Lawrence, senior vice president-operations. He notes that following the sale, Outrigger is able to weigh larger joint-venture partnerships. Lawrence says Outrigger believes the Australia and New Zealand markets both have significant room for growth.