An Abu Dhabi-based company has purchased Cheval Blanc Randheli, one of the Maldives’ most notable luxury resorts, for around USD 216 million, the highest sum paid for a Maldives resort.
According to a Gulf News report, UAE-based Murban previously owned the Randheli resort, which is managed by France’s Louis Vuitton Moët Hennessy (LVMH), and the resort was sold to Alpha Dhabi Holdings, a subsidiary of International Holding Company (IHC), earlier in June.
Alpha Dhabi Holding has acquired a number of hospitality properties from Murban, including the St Regis on Saadiyat Island, Al Wathba Luxury Collection Desert Resorts, the Le Noir café brand, and Etihad International Hospitality.
Alpha Dhabi Holding’s MD, Hamad Al Ameri, stated that with the purchase of Etihad International Hospitality, the company spent a total of USD 680.6 million to acquire various hospitality properties owned by Murban.
The Randheli resort charges between USD 2,500 and USD 5,000 per night for a room. The ultra-luxurious resort, which debuted in late 2013, has 45 villas, each with a private infinity pool, and is popular with wealthy and famous tourists. In addition, the resort includes five luxury restaurants that meet worldwide standards.
Berthold and Kotthoff Associates spent around USD 90 million to develop the resort.