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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:
While John Hardy and his Ubud Green School and Green Village have been at the groundswell of sustainable building materials, the area has sprouted other pioneering initiatives.
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
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