Minor Hotel Group (MHG) has announced a $4 million investment in the luxury boutique hotel brand Per AQUUM Retreats, Resorts & Residences, equating to a 50 percent stake in the leading lifestyle brand. As part of this strategic partnership with Universal Enterprises PTY LTD, Maldives, MHG and Universal plan to jointly develop the brand to encompass at least five additional properties within the next five years.
Per AQUUM currently boasts three award-winning properties – two in the Maldives, Huvafen Fushi and NIYAMA, in addition to Desert Palm in the Emirate of Dubai in the UAE. MHG and Universal will further invest in the brand over the coming years and the planned expansion will mirror MHG’s current footprint across Asia, the Indian Ocean, the Middle East and Africa. The addition of the three Per AQUUM resorts takes MHG’s overall portfolio to 91 properties in operation across twelve countries.
Dillip Rajakarier, CEO Minor Hotel Group, added, “We are delighted to announce the latest strategic addition to Minor Hotel Group’s ever expanding portfolio of brands across Asia, the Indian Ocean the Middle East & Africa. Per AQUUM is already a very well respected and exclusive brand and we look forward to having the opportunity to develop it further working in partnership with Universal Enterprises.”
M.U. Maniku, Chairman of Universal Enterprises comments, “We are very happy to partner with Minor Hotel Group which is well known to us and has an excellent reputation within the hospitality industry in Asia, the Indian Ocean and beyond. Under this partnership the Per AQUUM brand is set for rapid expansion and continued future success.”
Minor Hotels, www.minornet.com