JLL has announced its advisory on a notable debt refinancing for Amingiri Holdings Pvt. Ltd., enhancing services in the Maldives hospitality sector. The transaction is expected to stimulate increased debt financing activity, appealing to international lenders. With its expertise, JLL aims to support the region’s hotel owners in accessing diverse refinancing options. The Hilton Maldives Amingiri Resort & Spa, operational since July 2022, exemplifies the firm’s commitment to the Maldivian market.
JLL, a prominent advisory firm, has successfully facilitated a substantial debt refinancing program for Amingiri Holdings Pvt. Ltd., the proprietor of the luxurious Hilton Maldives Amingiri Resort & Spa. This pivotal agreement not only highlights JLL’s extensive experience in the Maldives hospitality market but also represents a significant enhancement of the firm’s services within this key region. JLL anticipates that its involvement will stimulate a rise in debt financing activities throughout the Maldives, attracting more diverse international lenders.
Amingiri Holdings Pvt. Ltd. operates as a subsidiary of Amin Construction Pvt. Ltd., a leading entity in Maldivian real estate. The debt refinancing was orchestrated by JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams from Singapore, in partnership with an international bank that served as the arranger, facility agent, and security agent for the loan.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group in Asia Pacific, stated, “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.”
Hilton Maldives Amingiri Resort & Spa, which commenced operations in July 2022 under Hilton Worldwide management, features 109 accommodations spanning both beach and overwater villas. Strategically located on Amingiri Island in North Malé Atoll, the resort is conveniently reachable via a 20-minute speedboat transfer from Velana International Airport.
Paul Brindley, Head of Debt Advisory for Asia Pacific at JLL, remarked, “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 successful execution of this transaction follows JLL being recognized as the number one advisor for Asia Pacific hotel investment sales in 2024 by MSCI Real Assets for the 13th consecutive year, with a remarkable total of approximately $2.0 billion advised in resort transactions across the Maldives.
In conclusion, JLL has successfully led a significant debt refinancing initiative for the Hilton Maldives Amingiri Resort & Spa, a key milestone that may catalyze further financing opportunities within the Maldives. This landmark transaction not only underscores JLL’s commitment to enhancing its services in this region but also aligns with the growing interest in structured finance from hotel owners. The firm’s ongoing reputation as a leading advisor in the hospitality sector reinforces its pivotal role in shaping the Maldives’ financial landscape.
Original Source: www.thehotelconversation.com.au
