John Keells pays US$ 21 mn for new Maldivian resort

May 16, 2006 (LBO) – Sri Lanka's John Keells Holdings said Tuesday that they have paid 21.8 million dollars to secure Maldivian based Dhonveli Beach & Spa on a 15-year lease. However, the absence of peace talks since April 2003, the two sides have been drifting apart and leading to more violence in a country where more than 60,000 people have been killed in fighting since 1972.

- LBO Newsdesk Located in the north Male Atoll, the resort is around 13 kilometers from the Male International Airport, the statement said.

The four-star resort consists of 60 water and 90 land bungalows. The resort also houses a spa with six treatment rooms and has one of the top seven surf points in the Maldives.

The investment was carried out through JKHs subsidiary, John Keells Maldivian Resorts Ltd.

"This investment will increase our exposure to the lucrative Maldivian leisure industry and is the first resort in our portfolio that is located at such close proximity to the airport," the statement said.

JKH is presently Sri Lanka's largest hotel operator commanding over 1,400 rooms spread over 13 hotels, including the Maldives.

The diversified blue-chip, which als