Oaks Hotels & Resorts (OAK)

Shares / Stock Code

OAK

Stock Exchange / Sharemarket

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Oaks Hotels & Resorts (OAK) operates in the management and letting rights (MLR) industry, which is part of the serviced apartment sector of the hospitality industry. Established in 1991, the company now operates 35 apartment hotels and resorts, which service the short- to medium-stay requirements of both the corporate and leisure markets. Its properties are located in Queensland, New South Wales, Victoria, Western Australia and South Australia.The company was established in 1991 by Brett Pointon. It listed on the the Australian stockmarket (ASX) on 3 January 2006.

Oaks Hotels & Resorts does not rely heavily on any one market and targets the corporate, leisure and domestic and international tourist markets in its operations. As a specialist MLR business, Oaks operates on a lower cost basis than traditional hotel operators that incur higher overheads as a result of considerably larger employee numbers required to provide the numerous services offered.

Major customers of Oaks Hotels & Resorts include domestic and international tourists, as well as corporate clients. Its competes against single property operators and hotel operators such as Grand Hotel Group (GHG).The Company’s 34 properties are located throughout Australia and New Zea-land, and in Dubai in the United Arab Emirates. Its subsidiaries include Boathouse Management Pty Ltd, Calypso Plaza Management Pty Ltd, Concierge Apartments Australia Pty Ltd, Goldsborough Management Pty Ltd, Oaks Hotels & Resorts (Qld) Pty Ltd and Seaforth Management Pty Ltd.