Finolhu Maldives resort, developed by Coastline Developments, has been sold to a German company called Seaside Hotel & Resorts for USD 90 million.
JLL Hotels & Hospitality Group, which had earlier bought the resort, stated that it has made a record transaction with Finolhu.
Finolhu was sold in April and its lease rights were transferred to JLL in May.
JLL has sold 15 Maldives resorts since 2012 but this is the first time that it has sold a Maldives resort to a European company.
While Seaside Hotels & Resorts manages numerous properties, Finolhu will be the first Asian resort to be run under the company.
Finolhu consists of 127 villas, which include lagoon, ocean, beach, and beach pool villas. The resort also has a restaurant, bar, water sports, dive center, yoga pavilion, and outdoor gym.
