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EoN Resorts and Partner Mubadala Development Company Building
61-room Viceroy Maldives on the Island of Vagaru

  Ultra-Luxury Resort Represents First Viceroy Property Outside the Americas

(LOS ANGELES, CA – April 6, 2010) -- Viceroy Hotel Group announced today that the company will unveil the newest addition to its growing Viceroy Hotels and Resorts collection with the December 2010 opening of Viceroy Maldives.   The property is being developed by Maldives-based, luxury hotel developer, EoN Resorts (EoN), in partnership with Mubadala Development Company (‘Mubadala’). 

Viceroy Maldives, a luxury resort, is currently under construction on the pristine, crescent-shaped island of Vagaru, located in the Shaviyani Atoll, one hour north of the capital Male.  Due to open in December 2010, this exclusive property will be the first Viceroy to open outside of the Americas and follows the recent successful launches of Viceroy Miami, Viceroy Snowmass in Colorado and Viceroy Anguilla in the Caribbean.

Brad Korzen, Viceroy Hotel Group Founder & CEO,  commented “The addition of Viceroy Maldives to our resort portfolio, especially on the heels of three 2009 Viceroy openings and our concurrent development of Viceroy Beverly Hills and Viceroy Abu Dhabi, represents an important next step in the growth and increasingly global focus of our company.”
 

EoN

The introduction of the 'one island, one resort' concept has positioned the Maldives as a high-end tourist destination. World-renowned hospitality brands have thus been entering the Maldivian market to consolidate their portfolio and strengthen their positions globally.

However, the barrier to entry is very high for new comers. EoN's diversified portfolio of Maldivian properties leverages on the strengths of leading hospitality brands to provide a major point of difference for potential investors while ensuring financial stability.

 Island of Vagaru
http://maldivestogo.com.tw/

Whilst others struggle to overcome the high barrier to entry into the Maldivian resort industry, investors and shareholders automatically engage in Maldives resort development by partnering with us.

EoN is unique in the Maldives, with:

  • A growing portfolio of quality properties
  • Carefully-selected, quality international hotel/resort operators to manage the properties, unlike any other in the Maldives
  • A diversified portfolio capable of withstanding downturns in the market
  • In-house expertise across the entire project life cycle
  • Implementation of international project management standards
  • Industry expertise, with key team members having a set of proven track records in developing the luxury resort market

The Viceroy Maldives resort will feature 61 luxury villas, situated both over the crystalline water as well as on the beaches that ring the 17-acre Vagaru Island.  The villas – amongst the largest in the Maldives –will boast from 1,345 to 3,300 square feet of indoor space, with generous outdoor private areas, all including plunge pools.  The resort will also offer five unique food and beverage outlets, a spacious over-water spa and fitness center, a signature cantilevered pool and pool deck and a full-service dive and watersports activities center, allowing Viceroy guests to take advantage of the world-class diving, fishing and snorkeling available in the resort’s house reef and beyond.

Mubadala is a 50% shareholder in Viceroy Hotel Group, and is actively driving the expansion of the luxury Viceroy Hotels and Resorts brand into key gateway cities and destinations across the globe.
 

Mubadala Development Company 

Viceroy Maldives is the latest addition to Mubadala Real Estate & Hospitality’s (MREH) growing hotel development and operator portfolio and is part of its broader international strategy to actively drive the expansion of its luxury Viceroy Hotels & Resorts operator brand to key gateway cities and destinations around the world.

“Viceroy Maldives will offer discerning travelers the ultimate exclusive beachfront villa resort experience with Viceroy’s signature blend of sophisticated luxury, elegant interiors and intuitive, personalized service” said John Thomas, Executive Director of Mubadala Real Estate & Hospitality.

“Viceroy Maldives is an important addition to our hospitality portfolio and a significant step in expanding the luxury Viceroy brand to premium business and leisure destinations around the world,” he added. “We look forward to working with EoN, who has a proven track record of developing world-class properties in the Maldives, on delivering this innovative, five-star resort.”

“We are thrilled to be partnering with Mubadala on this unprecedented project,” said Shuaib Shah, CEO of EoN Resorts.  “EoN’s specialized expertise brings exceptional development quality to the luxurious Viceroy Maldives, which will undoubtedly set new standards in luxury accommodation in the Maldives.”

For additional information on the Viceroy Maldives resort, the newest addition to Viceroy Hotels and Resorts, visit www.viceroyhotelsandresorts.com/maldives.  More information on Viceroy Hotel Group can be found at www.viceroyhotelgroup.com.

About Viceroy Hotel Group
Viceroy Hotel Group delivers luxury lifestyle experiences that marry provocative design and intuitive service in sought-after locations. Managing hotels under third-party agreements, Viceroy Hotel Group operates two luxury brands, Viceroy Hotels & Resorts and The Tides. Current Viceroy properties include hotels and resorts in Santa Monica, Palm Springs, Miami, Anguilla and Snowmass, Colorado as well as forthcoming openings in Beverly Hills (currently L’Ermitage Beverly Hills), The Maldives, Mayakoba in Mexico’s Riviera Maya and on Sowwah Island in Abu Dhabi. The Tides collection includes resorts in Miami’s South Beach, the Riviera Maya and Zihuatanejo, Mexico as well as a forthcoming development on St. Lucia in the Caribbean, currently Jalousie Plantation. Viceroy Hotel Group’s Urban Retreat Collection includes Avalon Hotel in Beverly Hills; Maison 140 in Beverly Hills; Sheraton Delfina in Santa Monica and Chamberlain in West Hollywood.

About Mubadala Development Company
Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi.  Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the management of partnerships and long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and contribute to the growth and diversification of its economy. 

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors including aerospace, energy, healthcare, industry, information communications and technology, infrastructure, real estate and hospitality.  For more information about Mubadala please visit www.mubadala.ae.

About Mubadala Real Estate & Hospitality 
Mubadala Real Estate & Hospitality (MREH) is a business unit of Mubadala focused on domestic and international projects in the real estate and hospitality sectors.  A critical component of Mubadala's broader mission, MREH is responsible for overseeing projects that are part of the development plans of Abu Dhabi and that help drive the local tourism sector.
With a mandate to drive Abu Dhabi’s long-term development and deliver key projects within Plan Abu Dhabi 2030: Urban Structure Framework Plan, MREH develops strategic, large scale commercial, residential and leisure districts to the best standards of quality, functionality and sustainability.  Key Abu Dhabi projects include the development of Sowwah Island, Sowwah Square, Arzanah and Mina Zayed Waterfront.

Within the hospitality sector, Mubadala Real Estate & Hospitality is helping to drive the tourism sector by developing world-class hospitality projects in Abu Dhabi, attracting leading hotel operators to the Emirate.  MREH also owns 50% of luxury hotel operator Viceroy Hotel Group and has been actively driving its expansion into key gateway cities and leading destinations around the world. The development of Viceroy Maldives supports this growth strategy.

For more information about Mubadala please visit www.mubadala.ae.
 

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Contact: 

Carran AuWerter/Courtney Long
LaForce + Stevens
viceroy@lsagency.com
Tel: 212-242-9353

Mubadala and Mubadala Real Estate & Hospitality:
Kirstin McKellar
Edelman Public Relations
E: kirstin.mckellar@edelman.com
M:  +971 (0)50 441 5988
 

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Also See: Platinum Capital Holdings Pvt Ltd. Signs Raffles to Manage a 49 Villa Resort on the Newly Developed Gaafu Alifu Atoll, in the Southern Part of the Maldives / March 2007
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