April 15, 2017

 

CENTARA HOTELS & Resorts recently signed a hotel-management agreement for a beach resort under the Centara umbrella in Maldives, Centara Grand Muthaafushi Resort & Spa Maldives.

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The agreement was signed in Thailand by Centara, Muthaafushi Orient Investments and Well Land Investment.

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Currently Centara Hotels & Resorts already owns two properties in Maldives and will manage two others, including Centara Grand Muthaafushi Resort & Spa Maldives.

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Centara Grand Muthaafushi is a new five-star resort in the southwestern portion of Baa Atoll. The resort is expected to have a soft opening in the fourth quarter of 2018 and its grand opening in 2019.

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The resort will comprise 24 land villas and 77 water villas. There will be an array of international restaurants including an underwater restaurant, as well as a floating cinema, a dedicated Thai spa, a fitness centre, and other facilities.

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Thirayuth Chirathivat, chief executive officer of Centara Hotels & Resorts, has said that this expansion of the business in Maldives is in line with Centara’s growth strategy to strengthen its international presence, including in South Asia.

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Avista Asset Management, a Singaporean real-estate-asset management company, identified potential joint-venture partners, leading to the teaming up of Muthaafushi Orient Investments, China Orient Asset Management (International) Holding and Centara Hotels & Resorts.

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Avista Asset Management |has been appointed as the |development and asset manager for this project by Muthaafushi Orient Investments. Avista says |it will continue to work closely with all the stakeholders in the project.

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Centara Hotels & Resorts is Thailand’s leading hotel operator, with a total of 67 deluxe and first-class properties, 44 of which are in major domestic tourist destinations, and 23 in prominent international destinations, including Maldives, Vietnam, Sri Lanka, China, Oman, Qatar and the United Arab Emirates.

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Muthaafushi Orient Investments is a subsidiary of Antrac Holding in Maldives. Antrac Holding is the country’s leading marine-service provider, handling more than 90 per cent of foreign freighters, cruise ships, luxury yachts, naval ships, research ships, and survey vessels in Maldives.

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The company is also one of the leading freight-forwarding, local transportation and international trading companies in Maldives.

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Source: The Nation