Muthoot Group Becomes First Indian Company to Acquire Hospitality Property in Central America
February 12, 2014 - New Delhi, Delhi, India
- ACQUIRES THE COSTA-RICA BASED ‘XANDARI RESORT & SPA’
- MLHS PLANS TO INVEST 200 CRORES IN NEXT TWO YEARS
- PLANS FURTHER EXPANSION IN CENTRAL AMERICA, AFRICA & SRI LANKA
Aligned to its ethos of conserving uniqueness of different cultures, Muthoot Leisure and Hospitality Services (MLHS), the hospitality division of Muthoot Group today announced the acquisition of Costa Rica’s award winning, high-end property ‘Xandari Resort & Spa’. This is the first acquisition by an Indian hospitality company in Central America.
Based in Alajuela, Costa Rica, Xandari Resort & Spa a luxurious property becomes the first overseas acquisition by MLHS. The resort was added to MLHS group in December 2013. MLHS has also extended its collaboration with Raxa Collective to manage the property hereon. MLHS plans to spend 200 crores in next two years
Mr. George M George, Executive Director, MLHS, said, “The concept of eco-friendly resorts originated in Costa-Rica and this acquisition is an expression of our belief in promoting environment-friendly projects around the world. Moreover, it is aligned to our vision of offering excellent service and hospitality to our guests, complemented by exquisite exposure to the heritage of that region. I am confident that the uniqueness of this property will appeal to global visitors and will go a long way in strengthening our business here. Having said that, India continues to be our focus market and we will announce our domestic expansion plans very soon”.
Xandari Resort & Spa is a tropical paradise of 24 individually designed villas nestled on a 40 acre plantation overlooking the Central Valley of Costa Rica. Each villa is beautifully designed and dressed up in a combination of barrel vaulted ceilings, thatch roofs, colorful walls, tile floors, original artwork by the owners, rattan chairs and traditional textiles. Adding serenity are the expansive lawns, covered by palapas. Guests are offered therapeutic spa service, set in the tropical garden with private palm-roofed gazebos, each with its own Jacuzzi and view. The resort also offers farm-fresh scrumptious cuisines for health-conscious and other guests.
Costa Rica stands as the most visited nation in the Central American region, with 2.2 million foreign visitors in 2011. International tourist receipts rose to US$2.4 billion in 2012, and the lead country of origin was the United States, followed by Nicaragua and Canada. Ecotourism draws many tourists to visit the extensive national parks and protected areas around the country.
The resort has received many recognitions and awards for its exceptional hospitality. To name a few such as, Condé Nast Platinum List (awarded for 5 consecutive years on Gold List), Top 10 Central South American Resorts organized by Travel + Leisure; Trip Advisor Travelers Choice Winner, World Travel Award for Costa Rica’s Leading Spa Resort
About Muthoot Leisure and Hospitality Services
MHLS owns seven properties across India and Latin America. Cardamom County, a conservation focused Resort in Periyar Tiger Reserve,Kerela; River Escapes, with a fleet of houseboats endowed with Imperial guest rooms in Alleppey, Kerela; Pampa Villa, a whispering riverfront villa in Champakkulam, Kerela; Kayal Villa, an exotic backwater villa at Panangad, Kerela; Spice Harbour, a Boutique hotel in the Mattenchery, Kerela; Pearl Beach, a sparkling villa-resort in Mararikulum, Kerela and the most recently added, Xandari Resort & Spa, a villa-resort in Alajuela, Costa Rica.
About Muthoot Group
Muthoot Group’s business origins can be traced back to 1887 when it started as a small trading business enterprise in Kozhencherry, a remote village in the state of Kerala. Since its formation, the company, under the leadership of its key management - Shri M.G. George Muthoot (Chairman), Shri George Alexander Muthoot (Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened its geographic scope of retail operations. Today, Muthoot Group is a multi-faceted business conglomerate that has been serving the nation for over 126 years. The formidable business empire comprises of 16 divisions including Financial Services, Plantations & Estates, Education, Leisure & Hospitality, Healthcare, Housing & Infrastructure, Infotech, Wealth Management, Money Transfer, Forex, Media, Power Generation, Precious Metals, Securities, Vehicle& Asset Finance, Travel Services, Muthoot Global and Muthoot Money.
Headquartered in Kochi and having its Corporate Office in New Delhi, the company has a dominant presence in over 21 states & 4 Union Territories of India. It also has its presence in USA, UK and UAE too.
Source: Business Wire India