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JLL’s Hotels & Hospitality Group to market Zitahli Kuda-Funafaru Resort, The Maldives 


​​SINGAPORE, 23 March 2015 JLL’s Hotels & Hospitality Group has been appointed by AAA Group on an exclusive basis to advise on a strategic, vacant possession disposition of Zitahli Kuda-Funafaru Resort and Spa, in The Maldives’ Noonu Atoll. 

Zitahli Kuda-Funafaru Resort and Spa comprises 50 villas (30 over-water villas and 20 beach villas), four food and beverage outlets, a full-service spa, an ocean-front fresh water infinity pool, a Werner Lau Diving Centre, a fitness centre with full-sized tennis court and luxury boutique.

Nihat Ercan, Executive Vice President, JLL Hotels & Hospitality Group, Asia Pacific said, "Zitahli Kuda-Funafaru Resort represents a rare opportunity for investors and owner-operators to acquire a five-star, luxury resort fully unencumbered by brand or management affiliations in one of the world’s most coveted resort destinations." 

He continued: "The Maldives is a dynamic destination, attracting a broad base of travellers from around the world. In 2014, international arrivals to the island nation increased 7 percent to 1.2 million and RevPAR at the country’s resorts increased 8 percent to USD 517. This global accessibility coupled with consistently strong growth in average room rates - which are among the highest in Asia - represent the market’s excellent underlying fundamentals. As a result of Maldives’ robust trading fundamentals, and supported by investor-friendly policies, we are seeing continually strong investor interest in Maldivian resort assets."

JLL’s Hotels & Hospitality Group in Asia Pacific has sold six resorts in the Maldives since 2012, with the 130-room Reethi Beach Resort in Baa Atoll currently under offer, taking the group’s resort sales in the Indian Ocean to more than USD500 million to date. 

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Notes to Editors:
JLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centres; mixed-use developments and other hospitality properties. The firm’s more than 320 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totalling more than US $48 billion, while also completing approximately 4,500 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle incorporated. For further information, visit www.jll.com

JLL has over 50 years of experience in Asia Pacific, with over 29,000 employees operating in 80 offices in 16 countries across the region. The firm was named ‘Best Property Consultancy’ in seven Asia Pacific countries at the International Property Awards Asia Pacific 2014, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. www.jll.com/asiapacific

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