JLL has successfully advised on a major debt refinancing for the Hilton Maldives Amingiri Resort & Spa, aiming to enhance financing activities in the Maldives. This initiative highlights JLL’s growth in the hospitality sector, promising new opportunities for diverse international lenders. The hotel features 109 luxurious villas, and the deal may catalyze increased debt financing interest in the region.
JLL has officially announced its advisory role in a significant debt refinancing program for Amingiri Holdings Pvt. Ltd., which owns the luxury Hilton Maldives Amingiri Resort & Spa. This initiative not only exemplifies JLL’s extensive experience in the Maldivian hospitality sector but also signifies a substantial expansion of its services in this strategic market. The firm anticipates that this advisory effort will stimulate further debt financing activities in the Maldives, attracting a broader range of international lenders.
Amingiri Holdings Pvt. Ltd., a key player in the hospitality domain, is a subsidiary of Amin Construction Pvt. Ltd., recognized as a leading real estate company in the Maldives. The collaborative work involved JLL’s Hotels & Hospitality Group alongside its Debt & Structured Finance teams in Singapore, securing refinancing through an international bank that acted as arranger, facility agent, and security agent for the loan.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group for Asia Pacific, expressed, “We have long provided innovative investment advisory solutions to the Maldives’ leading hotel owners and operators and proudly take our commitment to this market to another level by providing JLL’s first debt refinancing deal in the market. We believe there exists considerable interest in diverse refinancing programs in the Maldives that play to our strengths and ability to tailor solutions.”
Opened in July 2022, the Hilton Maldives Amingiri Resort & Spa is managed by Hilton Worldwide and features 109 accommodations, including beach and overwater villas. Strategically situated on Amingiri Island in the North Malé Atoll, the resort is conveniently reachable by a 20-minute speedboat ride from Velana International Airport.
Paul Brindley, Head of Debt Advisory for Asia Pacific at JLL, stated, “Advising on a transaction of this scale in the Maldives is a landmark for the country’s hospitality industry and JLL’s evolving debt financing footprint regionally. There is considerable interest by hotel owners for more structured finance services, and our entry into the Maldives will open new doors for financing assets in this and other non-traditional markets.”
The announcement follows JLL’s recognition as the leading advisor for Asia Pacific Hotels investment sales in 2024 by MSCI Real Assets, marking the 13th consecutive year of their exceptional performance. To date, JLL has facilitated approximately $2.0 billion in resort transactions within the Maldives.
In summary, JLL’s advisory role in the debt refinancing of the Hilton Maldives Amingiri Resort & Spa marks a significant development in the Maldivian hospitality sector. The transaction is poised to enhance the financing landscape in the Maldives by attracting diverse lenders. With strong support from JLL’s experienced teams, the firm continues to solidify its position as a premier advisor in the region’s hospitality market, showcasing its commitment to innovation and tailored solutions.
Original Source: www.thehotelconversation.com.au
