Minor Hotel Group acquires 50 percent stake of Universal's Per AQUUM

Thailand hospitality company Minor Hotel Group has purchased 50 percent of shares of Per AQUUM, the hotel brand owned by Universal Enterprises Pvt Ltd.

The National newspaper reports that Minor Hotel Group paid US$4 million to buy into the luxury boutique hotel brand and plans to develop the brand with Universal Enterprises to build at least five hotels over the next five years.

Universal Enterprises, one of the heavy weights in the Maldivian tourism industry, currently runs 3 luxury resorts under the Per AQUUM brand, two of which are in the Maldives - Huvafen Fushi and Niyama, and another, Desert Palm, in Dubai.

Chairman of Universal Enterprises Mohamed Umar Manik said that said he was pleased to deepen the existing relationship with Minor Hotel Group.

“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,” Maniku said.

The National states that this recent investment takes Minor's portfolio to 91 properties across 12 countries, including three Anantara hotels that it manages in the UAE.

Excluding the Per AQUUM venture, Minor International currently runs four establishments in the Maldives, namely Anantara Kihavah Villas, Anantara Veli Resort and Spa, Anantara Dhigu Resort and Spa and Naladu Maldives.

“We are delighted to announce the latest strategic addition to Minor Hotel Group’s ever expanding portfolio of brands,” said Dillip Rajakarier, CEO of the Minor Hotel Group. “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.”