Mfar Hotels & Resorts, hospitality arm of Kerala NRI tycoon P Mohamed Ali’s Mfar Group, is to invest around $100 million to set up a resort in Maldives. The company is planning to raise money from private equity entities. It also plans a resort in Sri Lanka.
P J Mammen, chief operating officer of Mfar Hotels & Resorts, said they were planning a viable circuit connecting Maldives, Sri Lanka, Chennai and Kochi. Both countries are well connected from Chennai and Kochi. Presently, he manages the operation of three functional hotels — Le Meridien Kochi, The Westin Chennai and Hormuz Grand Muscat — with a combined room strength of 671 and staff of 900. A 130-villa resort in Maldives is in the design stage, with the potential of adding two more resorts at a later stage.