The Sri Lankan conglomerate John Keells will be moving forward to open a fourth property in Maldives under its Cinnamon Hotels and Resorts brand.
The news becomes confirmed through John Keells’ Chairman Mr Krishan Balendra, in their annual report it was stressed that the group is currently in the process of finalizing a sublease agreement with a partner that remains undisclosed as of yet.
Mr Balendra further notes that the newest property will also follow the group’s asset light strategy for the expansion of rooms under management and as such the property will be subleased for a period of 10 years with the option for further extensions.
“[The new resort is being opened] in light of the group’s concerted efforts to capitalize on the growth prospects of the Maldivian tourism industry,” Mr Balendra was quoted speaking to the group’s shareholders.
The new Cinnamon property is expected to open in close proximity to Maldives capital Male’ City and will be a short trip from Velana International Airport.
John Keells, regarded easily as Sri Lanka’s largest hotel operator currently owner three luxury resorts in Maldives which are Cinnamon Hakuraa Huraa Maldives, Cinnamon Dhonveli Maldives and Ellaidhoo Maldives by Cinnamon.
The group further reported that the Maldivian properties had performed strongly during the previous year and continues with the same perseverance in the current year as well.