Oaks acquires Hunter Valley resort
Oaks Hotels & Resorts has officially announced it will take over the management rights of Cypress Lakes Resort in New South Wales’ Hunter Valley under the direction of Thai-based parent company, Minor International PCL.
Previously managed by Grand Mecure Apartments, the take-over is targeted to complete on 17 September and will be rebranded as Oaks Cypress Lakes Resort.
Oaks Hotels & Resorts’ CEO Brett Pointon commented, “This significant acquisition marks an exciting milestone for our company as our property expansion strategy continues on both a national and global scale. The iconic resort’s ideal location and existing accommodation and facilities present us with strong potential to attract a broad range of travellers across various markets and complements our existing portfolio of hotels and resorts perfectly.”
The sale comes at a busy time for Oaks Hotels & Resorts, last week opening its fourth and brand new Melbourne property Oaks on William, which has received excellent feedback from visitors during its first two weeks of operation. Additional expansion opportunities are also in the pipeline for the coming year, with properties in Gladstone, Milton and China currently being negotiated.
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