The sale of the resort developed by Coastline Hotels and Resorts Pvt., the same company that developed Amillafushi Resort, was formalized during April. Renowned consultancy firm JLL Hotels and Hospitality, who acted as a broker in the sale said the transaction is the first instance where a European company bought a Maldivian resort through the firm. Seaside Hotels currently operates 10 resorts in different parts of the world.
It is common practice for companies to develop resorts in the Maldives and sell it off at high prices. The initial investment used to develop the resort is usually recovered within seven to ten years of operation. Recently, Randheli Resort in Noonu atoll was sold off in a similar fashion.
Source: https://avas.mv/en/64618
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