Thailand’s hospitality and lifestyle conglomerate Minor International Public Company (MINT) and its financial partner, Abu Dhabi Fund for Development (ADFD) have acquired the Amari Havodda Maldives for USD 60 million.
This is the first hotel transaction in the Maldives for 2023, according to JLL’s Hotels & Hospitality Group, which advised the vendor, Crystal Plaza Resorts on the sale.
The 120-villa Amari Havodda Maldives features one of the largest infinity pools in the Maldives, and was designed by famous French interior designer Isabelle Miaja.
“The long-term confidence in the Maldives hotels space has again been reinforced through this groundbreaking transaction, which was successfully completed amidst a backdrop of ongoing macroeconomic headwinds and rising rates.”
— Nihat Ercan, Chief Executive Officer, Asia Pacific, JLL Hotels & Hospitality Group
According to Ercan, the investor interest to the unique asset was exceptional and demonstrated that a broad cross-section of capital from Asia Pacific to the Middle East were interested in acquiring properties in one of the world’s most attractive hospitality markets.
Following this transaction, the Amari Havodda will be integrated into MINT’s existing Maldives portfolio of six other properties. Moreover, the Thailand-based conglomerate will be rebranding Amari Havodda into an NH Collection hotel, a well-established hospitality brand in Europe and the Americas, and will serve as the first NH Collection property in the Indian Ocean and Asia.