Centara Hotels & Resorts, leading Thai hospitality group signed   a new hotel management agreement for its fourth beach resort under the Centara umbrella in the Maldives - Centara Grand Muthaafushi Resort & Spa Maldives. The signing ceremony took place between Centara Hotels & Resorts and Muthaafushi Orient Investments Limited, and Well Land Investment PVT LTD.

Under the agreement, Centara Hotels & Resorts will manage and operate Centara Grand Muthaafushi Resort & Spa Maldives, a new five-star resort in the South Western portion of Baa Atoll.

Baa Atoll, also known as Southern Maalhosmadulu Atoll, is approximately 123 kilometres North West of Malé International Airport in the Maldives. Consisting of 75 islands dotted around three separate natural atolls, Baa Atoll is home to some of the richest biodiversity in the region, and as such has held the status of UNESCO World Biosphere Reserve since June 2011. The recognition was a significant achievement for the Maldives, placing it in the company of world famous ecological sites.

According to Centara, the new resort will comprise 24 land villas and 77 water villas with an array of international restaurants including an underwater restaurant, a floating cinema, a dedicated Thai spa, a fitness centre, and other facilities expected in a Centara Grand resort. Centara Grand Muthaafushi Resort & Spa Maldives is foreseen to have soft opening in the fourth quarter of 2018 and grand opening in 2019. 

 "We are delighted to be selected by Muthaafushi Orient Investments Limited to manage and operate their new five-star resort in the Maldives." Remarks Thirayuth Chirathivat, Chief Executive Officer of Centara Hotels and Resorts

"We believe that Centara Grand Muthaafushi Resort & Spa Maldives will fit well into our Centara Grand resort portfolio. This expansion of the business in the Maldives is in line with Centaras growth strategy to strengthen our presence both in the South Asian region and internationally."

 "It was an esteemed pleasure for Muthaafushi Orient Investments Limited to embark on this partnership with Centara Hotels & Resorts for the new Centara Grand Muthaafushi Resort & Spa Maldives." Says Mohamed Hameed, Director of Muthaafushi Orient Investments Limited

"It is a great opportunity for us to work with such an eminent hospitality brand of the Thai origin as Centara, who brings with it long legacy of success in operating both owned and managed properties in popular tourist destinations worldwide." 

With a collaboration from Avista Asset Management Pte Ltd, Singapore a Real Estate Asset Management Company, Avista Asset Management has built an investment case and identify potential joint venture partners which lead to the teaming up of Muthaafushi Orient Investments Limited, China Orient Asset Management (International) Holding Limited and Centara Hotels & Resorts.

Avista Asset Management has been appointed as the development & asset manager of this project by Muthaafushi Orient Investments Limited. Avista Asset Management will continue to work closely with all the stakeholders and manage the development and asset management of Centara Grand Muthaafushi Resort & Spa, Maldives.

"We are pleased to be part of this new international collaboration between Centara Hotels & Resorts and Muthaafushi Orient Investments." Comments Executive Director Jin Zhai of China Orient Asset Management (International) Holding Limited, one of the investors for Muthaafushi Orient Investments Limited

"We are very honoured to help make it possible for the investment of the new and exciting Centara Grand Muthaafushi Resort & Spa Maldives."

Centara Hotels & Resorts is dedicated to providing exceptional service in unique and sophisticated environments.  As a Thai hospitality management and holding company it places a strong emphasis on providing Thai-influenced hospitality and its inimitably warm and gracious service style across all of its brands, whilst embracing, and maintaining a sense of place in the local environment of each property and resort. Centara has a dynamic portfolio with a mix of resorts and city centre hotels. 

Centara Hotels & Resorts expects to have more hotels operating in the Maldives by early 2018 and next year will also see the opening of its first resort in China with the 237 room Centara Resort Zhaoqing. This will be followed in 2019 by Centara Villas Zhaoqing, a luxurious resort with 46 villas. Both Centara Resort Zhaoqing and Centara Villas Zhaoqing are located in Guangdongs Zhaoqing City, a regional tourist hub and one of the key cities in the Pearl River Delta region. Finally, Centara Grand Beach Resort Jin Tai Hainan will be a new five-star family resort with 350 guest rooms and waterpark, opening in 2019. Hainan is being promoted as "China's Hawaii" and the entire island has been designated a Special Economic Zone.