Thai hospitality and lifestyle conglomerate Minor International Public Company (MINT) and its financial partner, Abu Dhabi Fund for Development (ADFD), have bought the Amari Havodda Maldives hotel for US$60m(€54m).

This transaction is the first hotel sale 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 is located on Gaafu Dhaalu Atoll in the southern region of the archipelago.

“Investor interest in this unique asset was exceptional, demonstrating that a broad cross-section of capital from Asia-Pacific to the Middle East will continue to seek opportunities in one of the world’s most attractive hospitality markets,” said Nihat Ercan, CEO, Asia-Pacific, JLL Hotels & Hospitality Group.

The Amari Havodda will be integrated into MINT’s existing portfolio of six properties in the Maldives. The Thailand-based conglomerate will be rebranding the asset into its NH Collection hotels.

Julien Naouri, SVP of investment sales Asia, with JLL Hotels & Hospitality Group, said ADFD saw the acquisition as a strategic investment in an attractive holiday destination.

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