Shangri-La Hotels & Resorts increases Australia presence

Shangri-La Hotels and Resorts has entered into an agreement to acquire and assume management of Traders hotel, operated by Holiday Inn Brisbane.  This will commence from August 7^th, 2012, the 191-room property located above the Brisbane Transit Centre, will be the first Traders hotel operated by Shangri-La Hotels and Resorts in Australia. Following the group’s recent acquisition of the 563-room landmark Shangri-La Hotel, Sydney and its current majority stake in Shangri-La Hotel, The Marina in Cairns, Traders Hotel, Brisbane will mark the hotel group’s third venture in Australia.

The decision to fully acquire and manage 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.

Catering to the events, banquets or meetings industry, the hotel will offer seven meeting rooms with a total capacity of 500 guests. MJ’s Restaurant and Bar at Traders Hotel, Brisbane will provide all-day dining.