In an announcement made today, Outrigger said it has concluded a memorandum of understanding with the Ray Group, developer of the properties, to manage and market the resorts under its joint venture agreement with Paradise Apartments, Pty. Ltd. Final agreements are expected to be concluded shortly. Both properties are expected to be complete by June 2000.

�Australia has been a priority in Outrigger�s development plans for many years, and we are very enthusiastic about this agreement and the marketing and operating synergies it creates,� said David Carey, president and chief executive officer of Outrigger Hotels & Resorts. 

�Adding these two luxury resorts to our portfolio will benefit Northern Queensland and Gold Coast tourism, as well as Outrigger�s international marketing network,� Carey said.

The Ray Group has been developing property in both New South Wales and Queensland for more than 10 years, with notable projects that include beachfront residences and resort hotels.

�Our research and experience has shown Outrigger to be a good business partner and a savvy operator, which is a good fit for the international clientele we expect to attract to Coolangatta and to Cairns,� said Brian Ray, managing director of the Ray Group. �We look forward to a long and successful partnership with Outrigger, as we continue to develop luxury resort properties.�

Landmark Accommodations

Calypso Towers on Marine Parade Coolangatta is a 22-story luxury beachfront resort condominium, centrally located on renowned Coolangatta Beach, with spectacular, uninterrupted ocean views from each of its 130 units. 

The one-, two- and three-bedroom units feature quality furnishings and finishes, and the resort grounds boast upscale amenities, including tennis, restaurants, shops, and a heated swimming pool. 

For decades, the resort area of Coolangatta was known for its idyllic lifestyle as a playground for the discerning traveler. Its natural beauty and its exciting beach parties were legendary. Today the area is undergoing a renaissance, as contemporary vacationers rediscover the area and its unspoiled beaches.

The Calypso Plaza Cairns is a 90-unit luxury hotel on The Esplanade, in the heart of the city�s tourism district. There will be one-and two-bedroom units, as well as 10 penthouses, offering elegant accommodations and attentive service.

The hotel�s grounds include lush gardens, and a large, tropical swimming pool and spa. It also is the site of the historic Cairns Court House, which will remain as a central focus on the grounds of the Calypso Plaza.

An extensive refurbishment will return the Court House building to its original splendor, as home to an exciting restaurant and shopping complex. The Calypso Plaza Cairns is directly across from The Pier and Marlin Marina, and the Reef Casino is just one block away. 

Described as offering the �best of the continent,� the popular resort town of Cairns is known for its proximity to natural and man-made attractions and as a major center for aboriginal culture.

Outrigger's International Network

Earlier this year, Outrigger formed a joint venture with a Queensland, Australia resort group, Paradise Apartments, to market and manage resort properties in Surfers Paradise on the fabled Gold Coast.

Currently the joint venture manages, markets and provides worldwide sales and reservations services for four resort condominiums, with a total of 807 units, including the 311-unit Sun City Resort�which opened to much acclaim in August.

According to Maurice Frawley, managing director of Paradise Apartments, partner in the joint venture, �We are enthusiastic about this opportunity, and we look forward to continuing to develop our relationship with Outrigger Hotels through these new projects in Cairns and Coolangatta.�

�For many years Coolangatta and Cairns have relied primarily on the Pacific and Asian markets. Becoming part of Outrigger�s marketing network is an indication that the owners see North American and Europe as markets of growing importance. We plan to help these properties realize their visitor potential,� Frawley added. 

Outrigger Hotels & Resorts is a division of Outrigger Enterprises, the 50th largest lodging company in the world. In Hawaii, Outrigger operates more than 9,000 rooms in 28 hotels and resort condominiums, making it the largest hotel chain in the islands. The company also has properties open or under development in Australia, Palau, Guam, French Polynesia, Fiji and the Marshall Islands. Outrigger's affiliate, Outrigger Lodging Services, manages nearly two dozen hotels and resorts throughout the U.S. mainland.