Finolhu Maldives which formerly operated under The Small Maldives Islands Co (TSMIC) was sold to Seaside Hotels and Resorts, a German company for USD 90 million.
The resort has been shifted under the new management on May 3, 2019.
The broker company which acted in securing the deal, JLL Hotels and Hospitality Group, a real estate consultancy firm stated that it reached a record amount with the Finolhu Maldives deal. JLL is one of Maldives’ leading broker companies which has sold 15 resorts since it opened in 2012.
Finolhu Maldives which opened in June 2016, has 125 one-room and two-room villas, including lagoon villas, ocean pool villas, beach villas, beach pool villas. Moreover, the island resort features a fitness center, yoga pavilion, water sports along with a diving center as well as an outdoor gym.