Minor Hotel Group, a Thailand-based hotel owner, operator and investor, has made a US$4 million investment in Per Aquum Retreats, Resorts and Residences.
The investment equates to a 50 per cent stake in the brand.
As part of this partnership with Universal Enterprises - 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 properties – two in the Maldives, Huvafen Fushi and Niyama, in addition to Desert Palm in Dubai in the UAE.
The addition of the three Per Aquum resorts takes MHG’s overall portfolio to 91 properties in operation across twelve countries.
MHG has an ongoing partnership with the Maniku family, principals of Universal Resorts, since the launch of three luxury resorts in the Maldives in 2006 and 2007, Anantara Dhigu Resort & Spa, Anantara Veli Resort & Spa and Naladhu Maldives.
MHG’s presence in the Maldives was strengthened by the opening of Anantara Kihavah Villas in early 2011.
Dillip Rajakarier, chief executive, Minor Hotel Group, said: “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.”