OAKS HOTELS & Resorts, a subsidiary of Minor International Plc and a division of Minor Hotel Group, is set to make its Australian Northern Territory debut by acquiring Elan Soho Suites in the territory's capital of Darwin, in a deal worth 57.1 million Au
Rebranding as Oaks Elan Darwin, the 301-room hotel, which was completed in 2014, will formally launch on September 1, marking the 52nd property in operation for Oaks Hotels & Resorts.
The opening will also see the company make its first foray into a sixth Australian state and territory as it expands its Australian presence, joining properties in Queensland, New South Wales, Victoria and South and Western Australia besides its overseas properties in the United Arab Emirates, Thailand and New Zealand.
Dillip Rajakarier, chief executive officer of Minor Hotel Group, said last week that the acquisition of Elan Soho Suites comes as MHG continues to make strategic investments in Australia.
“As part of our business expansion strategy both in Australia and abroad, we have been focused on accumulating quality assets in a number of regional locations alongside extending our portfolio of management properties in both city and resort destinations.
“Darwin has always been on our wish list and we are thrilled that Minor Hotel Group will now be represented in the Northern Territory,” he said. Since acquiring the Oaks brand in 2011, MHG has continued to grow the brand with major openings including Oaks Oasis on Queensland’s Sunshine Coast in 2011, Cypress Lakes Resort by Oaks and its onsite Golf and Country Club in New South Wales’ Hunter Valley in 2013 and the new-build Oaks Grand Gladstone and neighbouring Grand Hotel, which opened early last year.
“The decision to purchase Elan Soho Suites in Darwin is a natural progression for the Oaks Hotels & Resorts brand as we continue to expand our foothold in key Australian markets.
“Darwin is a unique destination with strong demand from the corporate and government sectors, lending to its reputation as one of Australia’s most robust economies.
“We also saw a major long-term growth opportunity with Darwin’s domestic leisure market, which grew more than 10 per cent over the past year.
“As a gateway to Southeast Asia, Darwin is also an increasingly popular destination with international visitors, so we welcome the opportunity to target these inbound overseas markets, underpinned by Minor Hotel Group’s strong international brand presence,” he said.
Located in the CBD, the 4.5-star Oaks Elan Darwin will rise over 27 floors and offer the choice of hotel rooms, studios and one- and two-bedroom self-contained apartments.
The acquisition also includes an onsite restaurant, Seoul Food, a unique dining experience with fusion Korean cuisine, which will open daily for breakfast, lunch and dinner.