May 2016


Roxy-Pacific Holdings ventures into the Maldives with Zitahli Kuda-Funafaru purchase


Singapore-listed Roxy-Pacific Holdings Limited has agreed to buy Zitahli Kuda-Funafaru Resort and Spa located in Noonu Atoll, the Republic of Maldives, for US$ 31 million through its wholly-owned subsidiary, Roxy Hotels and Resorts Pte Ltd.

JLL Hotels & Hospitality Group was the exclusive advisor for the sale, acting on behalf of AAA Group, which owns Zitahli Kuda-Funafaru.

The resort is the Singapore group’s first acquisition in the Maldives following a competitive process that attracted strong interest from groups in China, Thailand, Australia, UK and the United Arab Emirates.

Nihat Ercan, Executive Vice President, JLL Hotels & Hospitality Group, Asia said, “We would like to congratulate Roxy-Pacific Holdings on the acquisition of this spectacular property. Zitahli Kuda-Funafaru is a five-star, luxury resort in one of the world’s most coveted tourist destinations. With its investor-friendly policies and robust trading fundamentals, we are seeing a surge in investor interest in Maldives resort assets. More broadly we are predicting that 2016 will be a big year for hotel transactions in the Indian Ocean region.””

In the past decade, visitor arrivals in the Maldives rose at a compounded annual growth rate of about 12 percent with a record 1.23 million visitors registered in 2015.

Chinese tourists make up 29 percent of visitor arrivals, making China the top tourism source market for the Maldives. Other traditional source markets include Italy, the UK and Germany.

Zitahli Kuda-Funafaru Resort and Spa comprises 50 villas (30 over-water villas and 20 beach villas), four food & beverage outlets, a full-service spa, an ocean-front fresh water infinity pool, a state-of-the-art diving centre, a fitness centre with full-sized tennis court, and a luxury boutique.

This marks the eighth resort JLL has sold in the Maldives since 2012, taking the group’s resort sales in the archipelago nation to over US$400 million and approximately US$560 million in the Indian Ocean region.

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Baglioni reveals resort opening in Maldives


A new luxury private island resort developed in the Maldives by Baglioni Hotels is to open in the first quarter of 2017.

The Baglioni Resort Maldives will be the first Italian luxury five-star resort in the Maldives, on the private island of Maagau in Dhaalu Atoll.

This exclusive resort of 99 villas surrounded by turquoise water, velvet white sand and the tropical nature of one of the most spectacular Maldivian islands, will allow guests to experience a bespoke stay in the heart of the Indian Ocean with the unique Italian hospitality of Baglioni Hotels.


Designed to minimize the environmental impact, with sustainable materials and measures for the maximum sustainability and efficiency, Baglioni Resort Maldives will be the perfect destination for an unforgettable stay between sport and relax, all enriched by a prestigious gastronomic offer for the most exclusive International clientele. It includes three restaurants, a swimming pool and bar, spa and diving centre.


Baglioni Hotels is an Italian company that owns a chain of 9 luxury hotels, most of which are situated in palazzos in Italy’s main cities: six in Italy (Milan, Venice, Florence, Punta Ala and Rome), three in France (Aix-en-Provence, Champillon Epernay, Saint Paul de Vence) and one established in March 2004 in the UK, in the heart of London. Baglioni Resort Maldives will be the first hotel managed by the company in an exotic location.

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Kurumba Maldives receives two World Travel Awards in 2016


Approval Kurumba Maldives is proud to announce that they have been awarded two accolades in the 2016 World Travel Awards as follows:

Maldives’ Leading Resort 2016

Indian Ocean’s Leading MICE Hotel 2016

The first award highlights Kurumba as Maldives’ Leading Resort, which is presented to the best 4.5 to high end 5-star resorts. Kurumba Maldives has been revitalizing itself with a large investment to enhance the guest experience progressively over the past six years. Combined with these actions, the resort was rebranded under the principle of “Maldives in Full Colour”, which has brought a highly differentiated guest experience with the goal to offer more for its guests than resorts further afield.

The second award, as Indian Ocean’s leading MICE hotel is presented due to the resort being able to successfully host corporate retreats, groups, incentives, meetings and events on its grounds.

The prestigious World Travel Awards have been recognizing organizations delivering outstanding customer experiences in travel and tourism for more than 20 years. They have become a key global institution of the industry, stimulating competition and innovation among operators, as well as providing a helpful testimonial for quality to travellers worldwide. The Wall Street Journal is among the many media that have heralded WTA as “the Oscar’s of the travel industry”.

Judit Rosa, Sales & Marketing Manager of Kurumba Maldives commented: “We are thrilled to receive these prestigious symbols of recognition. A key part of these awards is a voting poll and we would like to thank all our loyal guests and key partners for their continuous support. Secondly, as a resort we are always looking to raise our standards and create a unique and thoughtful journey for our guests on a beautiful island setting. We are truly grateful for the positive recognition from our guests.”

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