JLL Hotels & Hospitality Group has announced that is has completed the sale of Sheraton Maldives Full Moon Resort & Spa and W Maldives to a global private equity investor for an undisclosed sum.
JLL’s Hotels & Hospitality Group represented Universal Enterprises and Marriott International.
The sale of these two landmark resorts takes JLL’s Indian Ocean track record to USD 2 billion in sales since their first sale of Soneva Gili a decade ago in 2012. The resorts are also sold with the benefit of Marriott International Management.
As this sale represents one of the largest open-market transactions in the Maldives along with the sale by JLL of both the Conrad Maldives Rangali Island and the Anantara Dhigu, Veli & Naladhu Maldives Resorts in 2019, and Cheval Blanc Randheli in 2015, JLL has stated that this sale reinforces the Maldives’ position as a major institutional capital destination.
“This landmark sale serves as a testimonial to the expertise and dedication of JLL’s Hotels & Hospitality team as the leading advisor in the Indian Ocean and beyond. Despite the challenges with travel restrictions, the large transaction size and complex nature of this transaction, we engaged a broad investor base that recognized and valued the Maldives for its resilience and stature as a global gateway resort destination,” says Nihat Ercan, Head of Investment Sales, Asia Pacific, JLL Hotels & Hospitality Group.
“In the Maldives, clients demand a real estate partner with comprehensive market intelligence, experience, market reach and importantly, passion. The offering of such prestigious resorts, especially with the benefit of existing management contracts with Marriott International, is extremely rare and we appreciate the significance of this transaction to our clients.” says Julien Naouri, Vice President, Investment Sales Asia, JLL Hotels & Hospitality Group.
Sheraton Maldives Full Moon Resort & Spa is situated on the private Furana island in the Republic of Maldives, a 15-minute speedboat ride from Velana International Airport. The five-star resort offers 176 guest rooms designed to blend into the surrounding turquoise waters, pristine beaches and lush greenery.
W Maldives offers 77 spacious resort villas where turquoise water and pristine sand come infused with W Maldives’ signature style, luxury and personality. Six restaurants and bars are available, within the turquoise waters of North Ari Atoll, a 25-minute seaplane flight from Velana International Airport.