JLL has successfully advised on a significant debt refinancing for Amingiri Holdings Pvt. Ltd. of the Hilton Maldives Amingiri Resort & Spa. This milestone showcases JLL’s expertise in the Maldives hospitality sector and aims to stimulate debt financing activities in the region. The resort, which opened in July 2022, features 109 villa accommodations and is accessible from Velana International Airport.
JLL (NYSE: JLL) has successfully facilitated a notable debt refinancing program for Amingiri Holdings Pvt. Ltd., the owner of the Hilton Maldives Amingiri Resort & Spa. This significant transaction underscores JLL’s extensive expertise in the Maldives hospitality sector, representing an enhancement of its services in this key market. Furthermore, JLL anticipates that this role will stimulate greater debt financing activities in the Maldives, attracting a broader range of international lenders to the sector.
Amingiri Holdings Pvt. Ltd., a subsidiary focused on hospitality, is part of Amin Construction Pvt. Ltd., a leading player in the Maldivian real estate landscape. The refinancing was orchestrated by JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams in Singapore, collaborating with an international bank that served as the arranger, facility agent, and security agent for the debt.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group for Asia Pacific, commented on this milestone, stating: “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.” Ercan expressed confidence in the demand for diverse refinancing options in the Maldives.
The Hilton Maldives Amingiri Resort & Spa commenced operations in July 2022 and is under the management of Hilton Worldwide. Featuring 109 accommodation units, the resort is situated on Amingiri Island within the North Malé Atoll, conveniently reachable 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 transaction, remarking: “Advising on a transaction of this scale in the Maldives is a landmark for the country’s hospitality industry.” He noted the growing interest from hotel owners in structured finance services and the potential for JLL’s entry into the Maldives to facilitate more financing avenues for assets in varying markets. JLL is also recognized as the leading advisor for Asia Pacific Hotels investment sales in 2024, having advised on approximately $2.0 billion of resort transactions in the Maldives.
In conclusion, JLL’s recent advisory on the debt refinancing for the Hilton Maldives Amingiri Resort & Spa signifies a pivotal moment for both the company and the Maldives’ hospitality sector. This transaction not only enhances JLL’s service offerings but also positions the Maldives as an appealing destination for international debt financing, reflecting a growing interest in structured financial solutions within the market.
Original Source: www.thehotelconversation.com.au
