S Hotels to develop high-end lifestyle resort on third Crossroads Maldives island
S Hotels & Resorts has entered into a joint venture with Myanmar’s Eco World Developer Holding Company Limited (EWD) to develop a high-end lifestyle resort on the third island of the Croassroads Maldives integrated tourism destination project.
S Hotels & Resorts, the hospitality arm of Thailand’s leading developer Singha Estate Public Limited, and EWD, a conglomerate with interests in real estate, mining, automotive, and food and beverage, signed the joint venture agreement on Thursday.
The resort on Island 3 of the Crossroads project will compose of 80 spacious villas — majority of the inventory as water villas — at a price point of USD 900-1,000 per night.
Construction is expected to begin in 2020, with opening slated for 2022.
“The Island 3 resort would enable the company to expand our offerings to experiential travellers in the Maldives,” Dirk De Cuyper, Chief Executive Officer of S Hotels & Resorts, was quoted in a statement, as saying.
“Having an exceptional partner such as EWD allows the Company to be even more confident to the further realise success of Crossroads project after the ground-breaking Crossroads Maldives project and as well to successfully achieve our revenue and earning target.”
Crossroads, the Maldives’ first and largest integrated tourist destination owned by Singha Estate, encompasses nine idyllic islands fringing the Emboodhoo Lagoon in the South Male Atoll. Two of the islands have been used for the first phase of the project, which opened in September.
The first island is home to the vibrant lifestyle district and heart of the mega project, The Marina @ Crossroads — an 11,000sqm retail and entertainment space. It offers an extensive array of attractions for visitors, including Hard Rock Cafe Maldives; Café del Mar, a 30-berth luxury marina; extensive retail, food and beverage outlets; a Maldives Discovery Centre supporting local arts and crafts; a Marine Discovery Centre; and a multi-purpose event venue and a junior beach club.