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Posted: 24 Jul 2012 | 9:27 am
The 254 room Laguna Beach Resort which was sold to private equity firm RECAP last year, has been conditionally sold to Outrigger Hotels and Resorts.
A closing for the transaction has been set for first quarter of 2013, which is when the upgrading of the resort is expected to complete.
Outrigger will reopen the property in the second quarter of this year.
Transaction activity remains high in Phuket, with another West Coast hotel put onto the market last week.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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