MINT ACQUIRES ANOTHER LUXURY RESORT IN MALDIVES

Editorial Staff

MINT ACQUIRES ANOTHER LUXURY RESORT IN MALDIVES

Minor International Public Company (“MINT”), a global leading hospitality and lifestyle conglomerate announced the acquisition of an exquisite luxury resort in GaafuDhaalu Atoll.

Amari Havodda Maldives

Situated in the southern region of the Maldives, through a collaboration between MINT and its partner, Abu Dhabi Fund for Development (“ADFD”). MINT will rebrand this newly acquired resort to NH Collection, a brand which has a strong presence in Europe and the Americas offering unparalleled luxury experiences, marking a significant milestone in its global expansion efforts.

The rebranding to NH Collection brand marks a landmark milestone, as it represents the first foray of this global brand extending its reach into the Indian Ocean. Launching NH Collection in the idyllic tropical island will attract travelers from Europe and the Americas, in addition to MINT’s primary feeder markets in other parts of the world, to experience NH Collection’s unmatched elegance and hospitality.

The resort will be seamlessly integrated into MINT’s portfolio of seven properties in the Maldives, enriching guests with an expanded array of extraordinary experiences and fostering synergies through its global sales network.

Mr. Dillip Rajakarier

"We are delighted to unveil this acquisition as part of our growth strategy and the introduction of NH Collection brand in the Indian Ocean," said Mr. Dillip Rajakarier, Group CEO of MINT. "Maldives’ remarkable post-COVID recovery and its allure as a captivating travel destination make it the perfect canvas for us to showcase our European brand. We are confident that our dedication to impeccable service."

“Through our collaboration with MINT in acquiring the resort in the Maldives, we reaffirm our commitment to advancing sustainable development and creating enduring value,” said Mohamed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development. “Our investment in this venture aims not only to elevate the guest experience and expand MINT’s global footprint, but also to contribute to the economic prosperity of the Maldives. This partnership exemplifies our dedication to fostering strategic alliances that drive sustainable tourism and yield mutual benefits for stakeholders, both locally and internationally.”

Amari Havodda Maldives

The acquisition of the resort stands as a testament to the trusted partnership between MINT and its strategic partner, ADFD, who will contribute 40% of the investment. This collaboration underscores the shared confidence and unwavering commitment of both parties to create lasting value for their stakeholders. MINT’s strong balance sheet will support its 60% investment portion (equivalent to USD 36 million) and it is poised to unlock unparalleled success in this new venture with strong double-digit returns and earnings-accretive contribution to its profitability.

Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution.