Outrigger Continues Global Expansion with Acquisition of Premier Island Atoll Property in the Maldives

Hawaii-based Outrigger Enterprises Group announced today that it has purchased the Konotta Island Resort situated in the Gaafu Dhaalu Atoll of the Republic of Maldives from Crystal Lagoon Pvt Ltd. The transaction closed in the Maldives on September 23, 2014, for an undisclosed amount and was brokered by Jones Lang LaSalle's Singapore-based Hotels and Hospitality Group acting as exclusive adviser to the vendor. Following a property renovation, the hotel is expected to open as the Outrigger Konotta Maldives Resort in July 2015.

Attending the transaction signing in Malé, the Maldives Minister of Tourism Ahmed Adeeb Abdul Gafoor said, "We are delighted that Outrigger Enterprises Group has decided to invest in the Maldives with its purchase of Konotta Island. Outrigger, as a US-based company, is very welcome here in the Maldives and we see this as a tremendous vote of confidence in our country's tourism industry."

"This latest acquisition marks the continued successful expansion of Outrigger in the Indian Ocean and fits perfectly with Outrigger's aim to be the world's premier beachfront resort brand," said David Carey, president and chief executive officer at Outrigger Enterprises Group. "The Outrigger Konotta Maldives Resort will be operated and marketed as a high-end premium property located in a magnificent atoll setting."

Outrigger Konotta Maldives Resort

Located southwest of the southern tip of India in the Indian Ocean, the Maldives is considered by many to be the "ultimate" luxury beach destination, a locale known around the world for its tropical beauty and tranquility, majestic views and one-of-a-kind experiences. The new property joins 15 other Outrigger Resorts properties situated on some of the world's most spectacular coasts across seven countries throughout the Indian Ocean and Asia-Pacific region. It is the second resort for Outrigger in the Indian Ocean following the purchase and highly successful opening of the Outrigger Mauritius Resort and Spa in April this year.

The private island of Konotta is located 211 miles (340 kilometers) to the south of Malé and conveniently accessible via a 55-minute flight from Malé to Kaadedhdhoo Airport followed by a scenic 20-minute journey on a private speedboat.

When it opens next year, the Outrigger Konotta Maldives Resort will offer a complete sense of privacy and intimate luxury with the current 27 beachfront one- and two-bedroom pool villas and 21 overwater pool villas. Four additional beachfront pool villas and an overwater presidential villa are also planned. The resort will be supported by a full range of facilities and services including new and innovative dining concepts, a marine education center, a Navasana Spa and retail outlets.

Since embarking on its expansion into the Asia-Pacific region in 2008, Outrigger has grown its presence outside of Hawaii to include properties currently open or under development in Phuket and Phi Phi Island, Thailand; Fiji; Australia; Guam; Hainan Island, China; Mauritius; and Vietnam.

"In the Maldives, Outrigger will create a unique resort experience that will attract discerning travelers from around the world," said Darren Edmonstone, Outrigger managing director, Asia Pacific. "Our acquisition in the Maldives builds on 67 years of iconic resort management expertise developed within Outrigger."