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More MINT money invests in Maldives

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SINGAPORE, 18 July 2023: Minor International Public Company Limited (MINT) confirmed last week its acquisition of a luxury resort in Gaafu Dhaalu Atoll in the southern region of the Maldives.

In a statement to the Stock Exchange of Thailand, MINT said the purchase was made by MINT and its partner, Abu Dhabi Fund for Development (“ADFD”).

Photo credit: ONYX Hospitality Group website. Former Amari Havodda Maldives.

HVS Asia Pacific reported that the Thai-based hospitality and lifestyle conglomerate and partner ADFD acquired the former 120-room/villa Amari Havodda Maldives from the owners, Crystal Plaza Resorts. “The transaction, valued at USD60 million, marks the first hotel sale in the Maldives for 2023,” according to the online hotel investment news alert.

The Amari Havodda Maldives website posted a notice this week stating the resort “will no longer operate under ONYX Hospitality Group from 31 July 2023.”

According to the MINT press statement, the Abu Dhabi Fund for Development (ADFD) will contribute 40% of the investment. MINT’s strong balance sheet will support its 60% investment portion (equivalent to USD36 million).

MINT will rebrand this newly acquired resort to the NH Collection, a brand with a strong presence in Europe and the Americas. The resort will be integrated into MINT’s portfolio of seven properties in the Maldives.

ADFD will contribute 40% of the investment. MINT’s strong balance sheet will support its 60% investment portion (equivalent to USD36 million).

About Minor International

Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution.

MINT is a hotel owner, operator and investor with a portfolio of over 530 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson Blu brands in 56 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South and North America.

MINT is also one of Asia’s largest restaurant companies with over 2,500 outlets system-wide in 24 countries under The Pizza Company, The Coffee Club, Riverside, Benihana, Thai Express, Bonchon, Swensen’s, Sizzler, Dairy Queen, Burger King, Coffee Journey and GAGA

brands.

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