The popular Amari Havodda resort in the Maldives has been listed with JLL Hotels & Hospitality Group’s Nihat Ercan, Julien Naouri and Isabel Wong.

Nihat Ercan, Senior Managing Director, JLL Hotels & Hospitality Group said, the listing is on the back of their successful sale of the Sheraton Maldives Full Moon Resort & Spa and the W Maldives where JLL received strong interest from a broad investor base who recognise and value the Maldives for its resilience and stature as a global gateway resort destination.

“With an increasing weight of capital entering the market, the Maldives has well positioned itself as a major institutional capital destination,” he added.

The resort spots an enviable natural advantage with the island enveloped by its pristine house reef featuring spectacular coral zones and marine habitats, while the atoll’s diverse topography also includes caves and steep drop-offs, known to deliver big fish encounters in the channels.

Since opening in 2016, Amari Havodda had been trading healthily pre-COVID, maintaining occupancy at above 70% with gross operating profit (GOP) margins in excess of 45%. Post-COVID, the Resort staged an impressive recovery finishing over the 2021 financial year with 75% occupancy and a GOP margin of 48%, surpassing its best performance in 2018. With no major capital expenditure plans in the near term, the resort is poised to maintain steady growth in recovery.

Currently operated by Onyx Hospitality Group, the opportunity is available with vacant possession allowing an incoming investor flexibility to establish brand presence in the Indian Ocean’s highest rated market or leverage on the large network of sales and marketing channels across the world of an international operator.

An incoming investor can explore value add opportunities for the Property to drive average daily rate further. This includes the addition of pools to 18 overwater villas on the northern end of the island to create an additional room category; improving the Kids’ Club space given increasing demand from families; expanding on food and beverage options and creating a truly unique and enticing specialty restaurant; as well as expanding and improving the spa. 

Mr Naouri added that since the re-opening of international borders in mid July 2020, the Maldives has staged a remarkable recovery with monthly visitor arrivals trending upwards and nearing pre-COVID levels, along with the resumption of most international flights. With the completion of the new seaplane terminal as well as ongoing infrastructure developments, including multiple airport expansions and upgrades, the island nation is set to see continuous growth in international arrivals post-COVID.

 “Well established with a healthy trading performance since its opening in 2016, Amari Havodda is poised to maintain steady growth in the most resilient global tourism destination. This vacant possession opportunity also allows an incoming investor flexibility to establish brand presence in the highest rate-yielding market in Asia Pacific,” said Vice President, Julien Naouri.

The property is being offered for sale via an Expressions of Interest campaign.

To request a copy of the Information Memorandum please contact one of the marketing agents JLL Hotels & Hospitality Group’s Nihat Ercan, Julien Naouri and Isabel Wong via the contact details below.