JLL Hotels & Hospitality Group is pleased to be exclusively appointed to offer for sale the Amari Havodda Maldives, located in Gaafu Dhaalu Atoll, Republic of Maldives.
Situated in Gaafu Dhaalu Atoll home to breathtaking coral reefs, Amari Havodda is a haven for diving, snorkelling and underwater discovery. The Resort is accessible via a scenic 55-minute flight from Velana International Airport to Kaadhedhoo Domestic Airport, followed by a short 15-minute speedboat ride to the island.
Key Investment Highlights
Enviable Unspoiled Location
The Property spots an enviable natural advantage with the island enveloped by its pristine house reef featuring spectacular coral zones and marine habitats, while the atoll’s diverse topography also includes caves and steep drop-offs, known to deliver big fish encounters in the channels.
Established Resort with Steady Cashflow
Since opening in 2016, Amari Havodda was trading healthily pre-COVID, maintaining occupancy at above 70% with gross operating profit (GOP) margins in excess of 45%. Post-COVID, the Resort staged an impressive recovery finishing FY 2021 with 75% occupancy and a GOP margin of 48%, surpassing its best performance in 2018. With no major capital expenditure plans in the near term, the Resort is poised to maintain steady growth in recovery.
Flexibility in Brand and Management
Currently operated by Onyx Hospitality Group, the opportunity is available with vacant possession allowing an incoming investor flexibility to establish brand presence in the Indian Ocean’s highest rated market or leverage on the large network of sales and marketing channels across the world of an international operator.
Value Add Opportunities
An incoming investor can explore value add opportunities for the Property to drive average daily rate (ADR) further. This includes the addition of pools to 18 overwater villas on the northern end of the island to create an additional room category; improving the Kids’ Club space given increasing demand from families; expanding on food & beverage (F&B) options and creating a truly unique and enticing specialty restaurant; as well as expanding and improving the spa.
Resilient Tourism Market
Since the re-opening of international borders in mid July 2020, the Maldives has staged a remarkable recovery with monthly visitor arrivals trending upwards and nearing pre-COVID levels, along with the resumption of most international flights. With the completion of the new seaplane terminal as well as ongoing infrastructure developments, including multiple airport expansions and upgrades, the island nation is set to see continuous growth in international arrivals post-COVID.