MINOR Hotel Group (MHG) has acquired a 50 per cent stake in Universal Enterprises’ Per AQUUM Retreats Resorts Residences, a deal which will see the expansion of the Per AQUUM brand.
Under the deal, MHG is investing US$4 million into the luxury retreat, resort, spa and residence management company and plans to grow Per AQUUM’s portfolio by at least five more properties within the next five years.
Expansion plans for Per AQUUM, to be a product of collaboration between MHG and Universal, will mirror MHG’s reach through Asia, the Indian Ocean, the Middle East and Africa.
MHG will also add the three existing Per AQUUM properties – Huvafen Fushi and NIYAMA in the Maldives and Desert Palm in Dubai – to its portfolio, increasing the group’s portfolio to a total of 91 properties across 12 countries.
