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Thursday, September 28, 2023

Abu Dhabi Development Fund and MINT acquire Maldives hotel | News


Thai hotel and lifestyle group Minor International Public Company (MINT) and its financial partner, Abu Dhabi Fund for Development (ADFD), have acquired the Amari Havodda hotel in the Maldives for US$60 million (EUR54 million).

The deal marks the first hotel sale in the Maldives in 2023, said JLL’s Hotels & Hospitality Group, which advised seller Crystal Plaza Resorts on the sale.

The 120-villa Amari Havodda Maldives is located in Gaafudhaalu Atoll.

Nihat Ercan, CEO Asia, said: “Investor interest in this unique asset demonstrates that a broad pool of capital from Asia Pacific to the Middle East continues to seek opportunities in one of the most attractive hotel markets in the world .” – Pacific, Jones Lang LaSalle Hotels & Hospitality Group.

Amari Havodda will join MINT’s existing portfolio of six hotels in the Maldives. The Thailand-based conglomerate will rebrand the asset as NH Collection Hotels.

ADFD views the acquisition as a strategic investment in an attractive resort, said Julien Naouri, senior vice president of investment sales for Asia at JLL Hotels and Hospitality Group.

To read the latest latest edition IPE Real Asset Magazine click here.


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