JLL has advised on a significant debt refinancing for Amingiri Holdings Pvt. Ltd., which owns the Hilton Maldives Amingiri Resort & Spa. This marks a major expansion of JLL’s services in the Maldives and could stimulate increased debt financing activity. The resort, which opened in July 2022 and features 109 villas, is strategically located in the North Malé Atoll, accessible from Velana International Airport.
JLL, a prominent global firm, announced its advisory role in a significant debt refinancing program for Amingiri Holdings Pvt. Ltd., the owner of Hilton Maldives Amingiri Resort & Spa. This initiative demonstrates JLL’s extensive experience within the Maldives hospitality sector and signifies a broadening of their services in this vital market. The firm anticipates that this transaction could stimulate a growth in debt financing activities in the Maldives, inviting additional international lenders to join the market.
Amingiri Holdings Pvt. Ltd. is a subsidiary of Amin Construction Pvt. Ltd., a leading player in Maldivian real estate. The refinancing was coordinated by JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams located in Singapore, collaborating with an international bank that served multiple roles, including arranger and security agent for the loan.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group, Asia Pacific, commented, “We have long provided innovative investment advisory solutions to the Maldives’ leading hotel owners and operators… and believe there exists considerable interest in diverse refinancing programs in the Maldives that play to our strengths and ability to tailor solutions.”
The Hilton Maldives Amingiri Resort & Spa, operated by Hilton Worldwide, opened in July 2022. It features 109 villas, both beach and overwater, and is located on Amingiri Island, accessible via a 20-minute speedboat ride from Velana International Airport.
Paul Brindley, Head of Debt Advisory for Asia Pacific at JLL, emphasized the significance of this deal, stating, “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.”
JLL’s recent recognition as the top advisor for Asia Pacific Hotels investment sales in 2024 by MSCI Real Assets complements this transaction. The firm has managed approximately $2.0 billion worth of resort transactions in the Maldives thus far, showcasing its substantial impact in the region’s hospitality finance sector.
In conclusion, JLL’s advisory role in the Hilton Maldives Amingiri Resort & Spa debt refinancing marks a pivotal moment in the Maldives hospitality market. This development not only highlights JLL’s commitment to the region but also serves as a potential catalyst for increased financing opportunities, attracting diverse international lenders. The expertise and innovative solutions offered by JLL will likely enhance the financing landscape in the Maldives going forward.
Original Source: www.thehotelconversation.com.au
