Sri Lankan Firm Sells Its Maldivian Five Star Property!

Sri Lanka’s Browns Investments PLC says its subsidiary Browns Ari Resort has completed the sale of its Barceló Whale Lagoon Maldivian Resort.

The buyer, according to the firm is ASB Hotel Properties Maldives Private Limited, who has paid a sum of US$ 57.5 million.

The resort built in 2023, is located in the South Ari Marine Protected Area (SAMPA) in the Maldives.

The area is renowned as one of the world’s top feeding grounds for whale sharks year around.

The Five Start Resort features 100 well-appointed and contemporary villas, three restaurants, a snack bar and three bars, a fitness center, a spa, and an array of water sports activities among several other amenities.

The new ownership changes means the Resort will undergo a strategic repositioning and will be managed by Meila Hotels International, according to a report published by The Hotel conversation.

Browns Investments is an Colombo Stock Exchange Listed firm.

JLL’s (NYSE: JLL) Hotels & Hospitality Group has been the advisor for the sale.