Shangri-La Asia Limited, the Hong Kong-based luxury hotel group, has entered a joint venture with Abelian Proprietary Limited to acquire The Pier at The Marina, consisting of the 255-room Shangri-La Hotel, The Marina, Cairns and The Pier shopping complex.
The transaction was completed on March 31, 2011, with Shangri-La acquiring a 55% interest. Shangri-La will continue to operate the hotel, which was previously under management agreement.
According to the company, this latest acquisition represents Shangri-La’s commitment to growing the brand in the Australian market.
The group managed Shangri-La Hotel, The Marina, Cairns since 2004. Located on the waterfront overlooking Trinity Bay and Marlin Marina, the five-storey hotel is within 10 minutes’ walking distance of 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.