Coastline Group has sold Finolhu Maldives in Baa Atoll to the German company. The German company, Seaside Hotel, paid USD 90 million to purchase the resort.
The resort was sold by broker JLL Hotels and Hospitality Group. With the sale of Finolhu, the firm had reached a record increase of transactions, according to JLL hotels.
JLL is a firm which have been active in the resort sector of the Maldives since 2012. Within the time, JLL have sold 15 resorts. However, sale of Finolhu resort was the first such transaction with a European company.