Browns Investments PLC (BIL) has announced the sale of its Barceló Whale Lagoon Maldives Resort to ASB Hotel Properties Maldives Private Limited, a subsidiary of Dubai-based Albwardy Investment, for US$57.5 million. The transaction, subject to Maldivian regulatory and third-party approvals, marks a significant shift in Browns Investments’ Maldivian leisure portfolio.
Located in the picturesque South Ari Atoll, the Barceló Whale Lagoon Maldives is a luxurious five-star resort boasting 100 elegantly appointed villas and suites. Its prime location near the South Ari Marine Protected Area (SAMPA) provides unparalleled opportunities for guests to witness the breathtaking spectacle of whale sharks and manta rays in their natural habitat. The resort offers a diverse range of amenities designed for ultimate relaxation and enjoyment.
Guests can choose from three distinct restaurants, each offering a unique culinary experience, complemented by a convenient snack bar and three bars catering to diverse tastes. Two inviting infinity pools provide stunning ocean views, while a tranquil spa and well-equipped fitness center cater to wellness needs. A wide array of water sports and excursions are available, ensuring an active and memorable stay. The resort’s comprehensive facilities cater to a broad spectrum of traveler preferences, from families seeking adventure to couples seeking tranquility.
This sale follows Browns Investments’ recent strategic expansion in the Maldives with the opening of Barceló Nasandhura Malé, a US$100 million, 16-story seafront hotel in Malé. This impressive property features 136 hotel rooms and 116 serviced apartments, along with extensive meeting, incentive, conferencing, and exhibition (MICE) facilities, including two grand ballrooms. This development showcases Browns Investments’ commitment to the Maldivian hospitality market, even as it refocuses its portfolio.
Albwardy Investment, the acquiring company, possesses a substantial and expanding international hospitality portfolio spanning four continents, often forged through collaborations with leading hotel brands. The acquisition of the Barceló Whale Lagoon Maldives represents a strategic expansion of Albwardy Investment’s presence within the thriving Maldivian tourism sector, further solidifying its position as a key player in the global hospitality landscape. The company’s established track record and global reach suggest a promising future for the resort under its new ownership.
The completion of the sale is contingent upon the successful securing of all necessary regulatory approvals and the fulfillment of other third-party conditions. A further announcement will be made upon the successful conclusion of the transaction.