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Asia-Pacific

New Maldives Premium Properties in Pipeline for 2023 Openings

Alan Woinski
October 4th, 2022 at 7:24 AM EDT

Skift Take

  • Enova Estates SL issued a press release on new resorts expected to open in 2023 in the Maldives. They currently have over 160 island resorts.
  • The Lee family has offered a takeover bid for Mulpha International Bhd, a continuation of a trend of privatizations and buyouts of public listed companies in Malaysia.
  • Marriott International announced the signing of an agreement with Yuexiu Property to bring its Ritz-Carlton brand to downtown Wuhan in China.

Enova Estates SL issued a press release on new resorts expected to open in 2023 in the Maldives. They currently have over 160 island resorts. In spring 2023 the five-star Six Senses Kanuhura will open with 80 private overwater, beach and spacious family villas. Also expected to open in 2023 will be the SO/Maldives from Accor and S Hotels & Resorts. The property will showcase a selection of 80 luxury villas, including beachfront and over-water options on the third island of Crossroads Maldives. Avani Hotels and Resorts announced the opening of their new Maldives property Avani + Fares Maldives Resort on Fares Island in Baa Atoll for 2023. This will be Avani’s first property in the Maldives and will include 176 studios, beach villas and over water villas.

The Lee family has offered a takeover bid for Mulpha International Bhd, a continuation of a trend of privatizations and buyouts of public listed companies in Malaysia. Selangor Properties Bhd and TA Enterprise Bhd are two other companies with Selangor Properties seeing two revisions already for its offer price through selective capital reduction exercises by promoters. In Mulpha’s case, the Lee family offered a price of RM2.30 a share for the remaining 49.8% of the company they do not own. That is a big discount to the reported NAV of RM11.21 per share but the stock trades at a huge discount to its asset value and did so even before Covid hit. Mulpha owns assets such as the InterContinental Sydney Hotel, Australia which has not been revalued since 2004 and has been undergoing refurbishments worth RM301 million since early 2021. Mulpha also owns the 1,765-acre Leisure Farm Resort in Johor, Sanctuary Cove, Norwest Marketown, Hayman Island, Nesuto Stadium Apartment Hotel and Carlile Swim Center. All are located in Australia, with the exception of the Nesuto Stadium Apartment Hotel which is in New Zealand.

Marriott International announced the signing of an agreement with Yuexiu Property to bring its Ritz-Carlton brand to downtown Wuhan in China. The hotel is expected to open at the end of 2024. The Ritz-Carlton, Wuhan is expected to occupy the upper levels of The Yuexiu Global Financial Center T5 Grand A Office Tower, a 330 meter tall skyscraper in Wuhan’s traditional city center of Hankou. The hotel’s lobby, ballroom, meeting rooms, and certain F&B facilities will be housed in another three lower levels of the same building. The guest rooms are slated to feature panoramic views of the urban city, nearby Xinhua Stadium and Zhongshan Park as well as the Yangtze River. The hotel is expected to feature 205 rooms and suites and four distinct culinary venues, including a lobby lounge. Plans also call for an anticipated Club Lounge, a signature Ritz-Carlton Spa with a fitness center and a swimming pool, and a total of 1,130 square meters in event space, including a 680 square meter ballroom.

Centara Hotels & Resorts released the first details of its newest Bangkok property – Centra by Centara Bangkok Phra Nakhon. The 180-key low rise hotel is opening llater this month just steps away from Bangkok’s historic district. The hotel is conveniently located near Khaosan Road and Chaophraya express boat piers. The stylish rooms are built around a peaceful inner courtyard. The hotel includes a swimming pool with a terrace, a fitness center, and modern meeting facilities.

Apeejay Surrendra Park Hotels Limited announced the signing of Zone by The Park Digha, West Bengal, situated in West Bengal’s ‘Brighton of the East’ – a prominent sea resort and tourist destination. ASPHL has entered into a long term agreement with Kolkata Metropolitan Development Authority and Digha Sankarpur Development Authority to manage and operate the hotel. The 65 room hotel consists of a 1,000 seater convention center with banquet halls and exhibition center spread over 5.5 acres of land. They plan to have the hotel ready for the G20 meetings in January 2023 at Digha. Zone by The Park Digha will be a midscale hotel from the midscale social catalyst brand The Park Hotels. The brand has its presence in Coimbatore, Jaipur, Chennai ORR, Bengaluru, Jodhpur, Jammu, Kolkata, Dimapur with upcoming hotels planned in Amritsar, Phalodi – Jodhpur, Muzzafarpur, Siliguri and Srinagar. Appeejay Surrendra Park Hotels plans to more than double the number of properties to 50 by 2025 from the current 23. Those 23 hotels have 1,934 rooms and plans are in place to add over 1,640 rooms in its portfolio through properties in the various destinations.

Araiya Hotels and Resorts signed a management agreement with Earth Weavers Builders & Developers to announce the first serviced apartment project in the scenic setting of Dhokawade, Alibaug in India. Araiya Waterfront Alibaug, Serviced Apartments by Earthweavers is located a five minute drive from Mandwa Jetty. The property will have 24 spacious apartments overlooking a lake, with ocean views from the higher floors. It is set to open by the summer season of 2024. Amenities will include a restaurant, swimming pool, gym and spa operated by hoteliers. The signing marks the sixth Araiya property to be developed in India and the first under the serviced apartment category.

The Assembly Place at Mayo, located at the corner of Mayo Street and Jalan Besar in Singapore, opened in early September as a “co-living hotel.” Before that, it had been known as Mayo Inn, a 23 room, no-frills boutique hotel in a four-story, 999-year leasehold building dating back to 1935. The hotel was recently refurbished with a new reception area and other updates but it retained part of its old-world charm, from its façade, stained glass windows and wrought-iron grills to vintage lift, retro wooden furniture in the rooms and bathrooms with white subway tiles. The Assembly Place’s second co-living hotel will occupy a row of four adjoining conserved shophouses at Veerasmy Road in Little India. That 24-room hotel was formerly known as RedDoorz Hotel Premium @ Serangoon. It was the maiden hotel managed by RedDoorz. The shophouses are being refurbished and will reopen in November as the co-living hotel. Also opening in November is their first co-living hostel at 25A Perak Road. The 31-room, 180-bed TAP co-living hostel is positioned as a premium hostel

Shangri-La Group announced that eight of its hotels were found to have been hacked, bypassing the group’s security monitoring system. Shangri-La said contact information of some guests was leaked. The Office of the Privacy Commissioner for Personal Data, Hong Kong said the personal data of more than 290,000 Hong Kong customers may have been affected and a compliance check has been launched.

Hilton announced Jochem-Jan Sleiffer will oversee rapid growth for the brand as president of Middle East, Africa and Turkey. More than 60 of the upcoming 90 hotels to be added will be in the Middle East. The UAE is Hilton’s largest market in the region, with 33 hotels currently in operation and 14 in the pipeline. Saudi Arabia is the fastest growing market with 16 hotels in operation and 45 in the pipeline. Hilton will have 24,000 additional hotel rooms across the Middle East, Africa and Turkey.

Rosewood Hotel Group announced Soo Jeong Lee has been promoted to VP of design, overseeing the Europe, Middle East and Africa regions. Lee has been senior corporate director of design, based out of Rosewood’s corporate headquarters in Hong Kong. Her new role will be based out of the brand’s Amsterdam office.

Alan Woinski
October 4th, 2022 at 7:24 AM EDT

Companies: Araiya Hotels and Resorts, Centara Hotels & Resorts, Centra, Enova Estates SL, Hilton Hotels & Resorts, Marriott International, Mulpha International Bhd, Ritz-Carlton, Rosewood Hotels & Resorts, Shangri-La Group, Six Senses, SO/ Hotels & Resorts

Locations: Bangkok, China, India, Maldives, Singapore, Sydney, Wuhan

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