Shangri-La Hotels boosts Australian presence.
The Hong Kong-based Shangri-La Hotels and Resorts has announced the acquisition of the Holiday Inn Brisbane, which will shortly be rebranded under the group’s Traders Hotels brand.
The 191 room property, centrally located above the Brisbane Transit Centre in Roma Street, will be the first Traders hotel operated by Shangri-La Hotels and Resorts in Australia, with the move following the group’s recent 100% acquisition of the 563-room Shangri-La Hotel in Sydney.
Shangri-La also has a majority stake in its Cairns property, and the company said the decision to fully acquire and manage the new Traders Hotel Brisbane “is in line with Shangri-La’s financial commitment and long-term vision for Australia.
“After China and the United States, the Australian continent represents the third largest market for Shangri-La,” the company said, with Australians also forming a “key substantial membership base” of the Shangri-La Golden Circle loyalty scheme.
Shangri-La established the Traders brand in 1989, with a range of properties in major business centres in Asia and the Middle East to complement its luxury brands of Shangri-La and Kerry Hotels.
The rebranded Traders Hotel Brisbane will debut on 07 Aug.
More information in today’s Travel Daily.