Ceylon Hotels Corp, China Harbour form JV to build resort in Maldives

A Ceylon Hotels Corporation (CHC) subsidiary will be forming a joint venture with a subsidiary of the China Harbour Engineering Company Limited (CHEC) to develop a US$ 50 million, 85-100 room resort in the Maldives.

The joint venture agreement is between CHEC subsidiary Zhen Hua Engineering Company Limited and Ceylon Hotels Maldives (Pvt) Ltd., which is a fully owned subsidiary of United Hotels Co Ltd, in which CHC has a 67 percent stake.

The resort will be developed in the Ambara Island situated in the Vaavu Atoll, and will be operational in 2020.

CHC in 2015 had announced that it was investing US$ 27.7 million to develop a 50-room resort in the Maldives. The Gardiner family’s Galle Face Hotel Group controls 60.31 percent of CHC.