Centara Hotels & Resorts has signed a new hotel management agreement for Centara Grand Muthaafushi Resort & Spa Maldives. Located in the Baa Atoll Biosphere Reserve, Centara Grand Muthaafushi Resort & Spa Maldives would be the fourth beach resort managed by Centara Hotels and Resorts – one of the leading Thai hospitality groups.

The management agreement was signed between Centara Hotels & Resorts, Muthaafushi Orient Investments Ltd., and Well Land Investment Pvt. Ltd. The new resort is expected to see its soft opening late 2018, and the grand opening early 2019.

Under the agreement, Centara Hotels and Resorts would operate and manage the new property, comprising of 24 beach villas, 77 water villas, 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.

“We are delighted to be selected by Muthaafushi Orient Investments Ltd. to manage and operate their new five-star resort in the Maldives,” said 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 Centara’s growth strategy to strengthen our presence both in the South Asian region and internationally.”

Mohamed Hameed – Director of Muthaafushi Orient Investments Ltd. was positive about the new partnership. He said: “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 a long legacy of success in operating both owned and managed properties in popular tourist destinations worldwide.”

Singapore-based Avista Asset Management Pte. Ltd. was appointed as the development & asset manager of this project where it would continue to work closely with all the stakeholders and manage the development and asset management of Centara Grand Muthaafushi Resort & Spa Maldives.

Centara currently operates two properties in the Maldives; Centara Grand Island Resort & Spa Maldives and Centara Ras Fushi Resort & Spa Maldives. Centara Hotels and Resorts – the hospitality arm of Bangkok-based Central Group – earlier announced plans to develop two new properties in the Maldives. Centara Hotels & Resorts operates a total of 67 deluxe and first-class properties; 44 across major domestic tourist destinations, as well as 23 hotels and resorts located in prominent international destinations, including the Maldives, Vietnam, Sri Lanka, China, Oman, Qatar and the United Arab Emirates.