Sri Lanka’s Cinnamon Hotels opens Velifushi Maldives

ECONOMYNEXT- Sri Lanka-based Cinnamon Hotels and Resorts, a unit of publicly traded John Keells Holdings, has opened a new resort in the Maldives, taking the total property run by the group to 15.

Cinnamon Velifushi Maldives is managed by the group for Marco Mingoli, property developer and investor in the Maldives.

“Cinnamon has succeeded in growing its occupancies and profitability in an economically challenging environment and envisages aggressive expansion in the region,” Jit Gunaratne, President Leisure for John Keells Holdings said in a statement.

“We are committed to stay competitive and grow our portfolio with enhanced technology and processes introduced to our own operations to be the preferred management company for potential developers in Sri Lanka and the Maldives.”

The resort has 90 rooms, made up suites, water bungalows, villas, lofts and family rooms.
It has a bar with views of the ocean, a sports bar. The resort has tied up with Mandara Spa, an international brand that originated in Bali.

JKH Chairman Krishan Balendra had said earlier that that the group was confident of continued growth in the Maldives.

“The stability in the political environment since the end of 2018 provides the necessary foundation for continued growth,” Balendra told shareholders in the 2018 annual report.

“We are optimistic on the prospects for Maldives as a destination over the next few years as it continues to brim with potential to sustain and attract increased demand from travelers.”