Outrigger Buys Maldives Resort

Hawaii-based Outrigger Enterprises Group has purchased the Konotta Island Resort situated in the Gaafu Dhaalu Atoll of the Republic of Maldives from Crystal Lagoon Pvt Ltd.

The transaction closed in the Maldives on 23 September 2014, for an undisclosed amount and was brokered by Jones Lang LaSalle's Singapore-based Hotels and Hospitality Group acting as exclusive adviser to the vendor.

Following a property renovation, the hotel is expected to open as the Outrigger Konotta Maldives Resort in July 2015.

"This latest acquisition marks the continued successful expansion of Outrigger in the Indian Ocean and fits perfectly with Outrigger's aim to be the world's premier beachfront resort brand," said David Carey, president and chief executive officer at Outrigger Enterprises Group. "The Outrigger Konotta Maldives Resort will be operated and marketed as a high-end premium property located in a magnificent atoll setting."

The private island of Konotta is located 211 miles (340 kilometers) to the south of Malé and is accessible via a 55-minute flight from Malé to Kaadedhdhoo Airport followed by a 20-minute journey on a private speedboat.

When it opens next year, the Outrigger Konotta Maldives Resort will offer 27 beachfront one and two-bedroom pool villas and 21 overwater pool villas. Four additional beachfront pool villas and an overwater presidential villa are also planned.

The resort will be supported by a full range of facilities and services including new dining concepts, a marine education center, a Navasana Spa and retail outlets.

Since embarking on its expansion into the Asia Pacific region in 2008, Outrigger has grown its presence outside of Hawaii to include properties currently open or under development in Phuket and Phi Phi Island, Thailand; Fiji; Australia; Guam; Hainan Island, China; Mauritius; and Vietnam.