John Keells picks up new Maldivian resort for US$12.5 mn

August 04, 2006 (LBO) – Sri Lanka’s largest hotel operator, John Keells Holdings Friday said they have picked up their fifth Maldivian resort for 12.5 million dollars. Some of the best diving sites in the Maldives are found in the vicinity of Ellaidhoo such as Fish Head, Maya Thila, Halaveli Wreck and Fesdhoo Wreck.

Maldivian leisure sector has been performing well, with arrivals up 84.3 percent to 297,650 for the six months to June over the same period 2005, led by Italy and the United Kingdom.

Besides Ellaidhoo and Validhu, JKHs Maldivian properties include:

¢ Hakuraa Club which has a mix of water and beach bungalows
¢ Alidhoo Coral Garden Resort & Spa 100 room facility, now under construction and schedule to open for guests from January 2007
¢ Dhonveli Beach & Spa 150 bungalows, recently taken on a 15-year sub-lease for 21.8 million dollars.

JKH is presently Sri Lanka’s largest hotel operator commanding over 1,400 rooms spread over 13 hotels, including the Maldives.

The diversified blue-chip, which also has investments in transport and property, has two city hotels in Colombo that brings in business traffic and 1