Brown Investment sells Barcelo Whale Lagoon Maldives for USD 57.5 million

Brown Investment PLC has sold its Barcelo Whale Lagoon Maldives resort in South Ari Atoll to Dubai-based Albwardy Investment for USD 57.5 million.

The five-star, 100-room resort is managed and operated by Spain’s Barceló Hotel Group.

The sale comes as part of Brown Group’s strategy to restructure its tourism portfolio in the Maldives. Earlier this year, the company inaugurated a 16-storey hotel "Barcelo Nasandhuraa" in Male'.

Albwardy Investment, the buyer, is a multinational firm with an extensive hospitality portfolio, operating luxury hotels and resorts worldwide.