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Shangri-La has eyes on Australia
Shangri-La Hotels and Resorts continues to grow its footprint in Australia following agreement to acquire and assume management – under the Traders brand – of the hotel currently operated by Holiday Inn Brisbane.
The 191-room property will be the first Traders hotel operated by Shangri-La Hotels and Resorts in Australia.
The group recently acquired the 563-room landmark Shangri-La Hotel, Sydney and has a majority stake in Shangri-La Hotel, The Marina in Cairns.
The Hong Kong-based group said its decision to fully acquire and manage Traders Hotel, Brisbane is in line with its financial commitment and long term vision for Australia.
Australia represents the third largest market for Shangri-La after China and the United States.
Shangri-La Hotels and Resorts currently owns and/or manages 72 hotels under the Shangri-La, Kerry and Traders brands, with over 30,000 rooms.
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