While times are tough for many, Outrigger Hotels & Resorts is expanding its portfolilo. It was announced earlier this week that the company has entered into an agreement to purchase the management rights and associated real estate assets of the hotel property currently operating as the Holiday Inn Surfers Paradise in Australia's Gold Coast.
The 414-room hotel will changes hands either later this year or early 2012, when it will be rebranded to Outrigger Surfers Paradise. Regional General Manager - Australia, Grant James, said in a statement, "Despite current global economic woes, there is a lot of positive news coming out of the Gold Coast which includes the opening of two new five-star hotels, construction of the Gold Coast light rail and planned runway extension at Gold Coast International Airport to allow direct flights from China."
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