Hong Kong-based Shangri-La Hotels and Resorts has brought its Traders brand to Australia, opening this week in Brisbane.
Shangri-La bought the Holiday Inn hotel in Brisbane for about $50 million and has reflagged it as a Traders Hotel.
The deal follows the company’s recent acquisition of the Shangri-La Hotel in Sydney’s Rocks area from the Government of Singapore Investment Corporation for $330 million.
The group also holds a majority stake in Shangri-La Hotel at The Marina in Cairns.
The Shangri-La group established the Traders chain in 1989 and now operates hotels in major business centres in Asia and the Middle East.
