Maldives Luxury Resort Six Senses Laamu sold for $70 million

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The island resort of Six Senses Laamu operated on Laamu Olhuveli has been sold to Leisure Frontiers Limited, a subsidiary of Singapore-based Hotel Properties Limited (HPL).

Tourism news website Hotel News Resource stated that Olhuveli Laamu Holdings Pvt Ltd decided to sell the 97-villa luxury resort property based on adviced by Jones Lang LaSalle’s Hotels & Hospitality Group.

However, the Six Senses Hotels, Resorts & Spas will continue to manage the resort, the website said.

Six Senses Laamu comprises 70 over-water villas and 27 beachfront villas, supported by a wide range of world-class amenities and facilities.

Senior Vice President, Investment Sales Asia, Hotels & Hospitality, Jones Lang LaSalle Nihat Ercan said, “The Maldives is one of the world’s strongest gateway resort destinations and has had a phenomenal first half of the year, with visitor arrivals up 17% over the same period last year.”

He also said that the average room rates in the Maldives Resorts significantly outpace all other resort markets and a continued positive outlook has the island nation firmly on investors’ radar.

Scott Hetherington, CEO Asia of Jones Lang LaSalle’s Hotels & Hospitality Group said, “Six Senses Laamu will be Jones Lang LaSalle’s fourth transaction in the Maldives and sixth in the Indian Ocean over the past two years, bringing the total transaction volume overseen by the Group in the Indian Ocean to more than USD350 million.”

Sanctuary Sands Maldives, a subsidiary of Singapore-based CDL Hospitality Real Estate Trust purchased Angsana Velavaru resort for $71 million earlier this year.

HPL Hotels & Resorts, also a subsidiary of Hotel Properties Limited acquired Soneva Gili in Lankanfushi late last year.

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