Hayleys goes to Maldives
Hayleys Plc, among the top four resort operators in the country through its leisure brand Amaya, has ventured into the Maldives with a US$ 23 million investment (around Rs. 3.4 billion) to buy a luxury resort with 51 villas, which the Business Times (BT) first reported on May 15.
Responding to BT's story, the company the next day (May 16) didn't deny the story but sent a clarification to the Colombo Stock Exchange (CSE) saying that negotiations are constantly carried out to expand Hayleys' leisure, but nothing has 'amounted to substantial resolution upto now'. Two months later the BT story was proved correct when Hayleys announced last Friday July 15) that it has acquired Kuda Rah Island Resort, Maldives.
Hayleys in the CSE filing said it had ventured into owning and operating an overseas resort in the Maldives which would complement its city hotel and resort portfolio in Sri Lanka.
The investment was made by a Hayleys subsidiary, Luxury Resort Ltd, a company incorporated in the Maldives.
Kuda Rah Island Resort, which is located in the picturesque South Ari Atoll, consists of 51 luxury villas and this resort will be branded Amaya Kudarah Maldives and will be under the management of Amaya Leisure Plc.
According to the sources who spoke to the Business Times in May, Hayleys was in an ongoing negotiation with the Anilana Group of hotels owned by businessman, Asanga Senevirathna (which both have in some form or the other denied) to acquire Anilana properties.
Hayleys PLC has an aggregate room portfolio of 659 rooms. Seven properties fall under the group's purview as at data last year. With the acquisition of Amaya Beach in Passikudah in 2014 the company made its entry to the East Coast of the country.
In the Maldives, Hayleys has a growing logistics business. The Maldives is targeting 1.5 million tourists this year, up from 1.2 million in 2015.
Hayleys in the CSE filing said it had ventured into owning and operating an overseas resort in the Maldives which would complement its city hotel and resort portfolio in Sri Lanka.