Shangri-La Asia Limited, the Hong Kong-based luxury hotel group, has entered a joint venture with Abelian Proprietary Limited to acquire Queensland resort complex, ‘The Pier at The Marina’. The complex consists of the 255-room Shangri-La Hotel The Marina, Cairns and The Pier shopping complex.
The transaction was completed on 31 March 2011, with Shangri-La acquiring a 55% interest. Shangri-La will continue to operate the hotel, which it previously operated under management agreement since 2004.
Located on the waterfront overlooking Trinity Bay and Marlin Marina, the five-storey hotel is
10 minutes’ walk from the Cairns Convention Centre and 10 minutes’ drive from the airport. The hotel’s facilities include North Restaurant, and Ba 8 restaurant, an outdoor swimming pool and children’s pool, as well as extensive meeting and banquet facilities. The Pier Shopping Complex houses restaurants, bars, retail stores, a gymnasium, a spa plus serviced offices.
Hong Kong-based Shangri-La Hotels and Resorts currently owns and/or manages 72 hotels under the Shangri-La, Kerry and Traders brands, comprising more than 30,000 rooms.