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Thailands Minor Hotel Group Signs Major Deal in Mozambique

Travel News Asia Videos Podcasts Latest Travel News Asia Tuesday, 23 September 2014
 

Minor Hotel Group has expanded its presence in Mozambique through a significant hotel and mixed use investment in the capital Maputo, in addition to increasing its hotel portfolio with the rebranding of existing assets in the country to its Anantara and Avani brands.

Minor Hotel Group has invested approximately US$ 101 million to acquire 49% of an hotel and mixed-use property project in Maputo in a joint venture with Rani Investment LLC.

The hotel and mixed-use development consists of the existing 154-key Radisson Blu Hotel, together with a 187-key residential tower and a 21-storey office tower of approximately 20,900 square metres, both of which are under construction.

The project is located in prime Maputo CBD, facing the renowned Maputo Bay.

The residential project is expected to be completed by the end of 2015, the majority of which will be retained as rental units. The office project is also expected to be completed by the end of 2015 and will cater to pent-up demand for international quality office space.

As the capital city of Mozambique, Maputo is expected to reap the growth benefit of the countrys robust economy, buoyed by foreign investment and emerging domestic consumption, growth in the extracting sector and recent discovery of a substantial offshore natural gas reserve.

In line with its continued growth strategy for Africa, Minor Hotel Group opened its first property, Anantara Bazaruto Island Resort & Spa in Mozambique, in November 2013, and has recently rebranded two properties which were part of a previous investment partnership with Rani Investments LLC in April 2014.

Representing the first Avani on the African continent, Avani Pemba Beach Hotel & Spa provides a prime location in the heart of Pemba for business guests and also attracts leisure guests as a gateway to the Niassa National Reserve and spectacular local diving sites. The hotel is situated in the countrys far northern province of Cabo Delgado, and offers 185 guest rooms, suites, villas and apartments. Pemba Airport is accessed from Johannesburg, Maputo, Nairobi and Dar as Salaam.

Located in the Quirimbas Archipelago, a 250 kilometre long string of tropical islands off Mozambiques northern coast, Anantara Medjumbe Island Resort & Spa offers a tranquil hideaway on a paradise private island. The resort offers a boutique collection of 12 thatched beachfront villas, each with their own pool and hammock, and combines sophisticated simplicity with unrivalled hospitality. Anantara Medjumbe Island is home to its own airstrip, a 45-minute light aircraft flight from Pemba Airport.

The Quirimbas Archipelago is also the location of one further property in the portfolio which is currently closed for an extensive renovation, to be rebranded to Anantara Matemo Island Resort & Spa in 2015.

Dillip Rajakarier, CEO Minor Hotel Group, said, Minor Hotel Groups continued investment with Rani demonstrates absolute confidence in our strategic partnership, as well as in Mozambiques growth prospects. We are delighted to launch the very first Avani branded hotel in Africa and to grow our luxury Anantara brand, and with our added presence in Maputo, Minor Hotel Group now has investments from the north all the way to the south of Mozambique. Minor Hotel Groups expertise in the hotel and real estate industry, combined with Ranis business expertise and network in Mozambique, will help ensure the effective execution of these properties and new developments.

MHG, Africa, Mozambique, Maputo, Minor Hotel Group, Avani, Anantara

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