World-renowned hotel chain, Shangri-la Group of Hong Kong, has purchased the landmark 117-room Holiday Inn Male and is set to rebrand the hotel in November.
Director of Communications at Shangri-La's Villingili Resort and Spa, Lesley Garcia, said the 14-storey hotel earlier managed by InterContinental Hotels Group (IHG) would be rebranded to “Traders Hotel Male” soon.
Shangri-La did not disclose the deal price. Haveeru was also unable to get a comment from IHG.
The company, which currently operates 68 hotels and resorts, also secured a bid from the government in 2007 to build and operate a 15-storey hotel at the southeast corner of Male and paid US$500,000 as advance payment. However, public complaints stalled the project for the past years, leading to the cancellation of the project.