JLL’s Hotels & Hospitality Group to Market Zitahli Kuda-Funafaru Resort in Maldives

JLL’s Hotels & Hospitality Group has been appointed by AAA Group to advise on a strategic, vacant possession disposition of Zitahli Kuda-Funafaru Resort and Spa, in the Maldives’ Noonu Atoll.

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

“Zitahli Kuda-Funafaru Resort represents a rare opportunity for investors and owner-operators to acquire a five-star, luxury resort fully unencumbered by brand or management affiliations in one of the world’s most coveted resort destinations,” said Nihat Ercan, Executive Vice President, JLL Hotels & Hospitality Group, Asia Pacific. “The Maldives is a dynamic destination, attracting a broad base of travellers from around the world. In 2014, international arrivals to the island nation increased 7% to 1.2 million and RevPAR at the country’s resorts increased 8% to US$ 517. This global accessibility coupled with consistently strong growth in average room rates - which are among the highest in Asia - represent the market’s excellent underlying fundamentals. As a result of Maldives’ robust trading fundamentals, and supported by investor-friendly policies, we are seeing continually strong investor interest in Maldivian resort assets.”

JLL’s Hotels & Hospitality Group in Asia Pacific has sold six resorts in the Maldives since 2012, with the 130-room Reethi Beach Resort in Baa Atoll currently under offer, taking the group’s resort sales in the Indian Ocean to more than US$500 million to date.