03 Jul 2013
Minor Hotel Group acquires 50 per cent stake in Per Aquum
BY Aoife Dowling
Minor Hotel Group (MHG) has invested US$4m (€3m, £2.6m) in the resort and spa management company Per Aquum Retreats, Resorts, Residences, with plans to develop at least five additional properties over the next five years.
The investment, which equates to a 50 per cent stake, represents a partnership between Universal Enterprises and MHG.
Per Aquum is part of Universal Enterprises, a Maldivian-based resort operator and owner which has been in business for more than 35 years. In 2003, Universal joined forces with husband-and-wife team Tom McLoughlin and Jane Quinn (see Spa Business, issue 1, 2006 p28) to create Per Aquum to manage its luxury boutique properties. As the company’s name suggests, spas are central to its concept.
Per Aquum currently operates three properties. The two in the Maldives include Huvafen Fushi, the resort famous for launching some of the first underwater treatment rooms, and Niyama. There’s also the Desert Palm in Dubai.
The addition of the three Per Aquum resorts takes MHG’s overall portfolio to 91
properties in operation across 12 countries.
MHG and Universal will further invest in the brand over the coming years and the planned expansion will mirror MHG’s current footprint across Asia, the Indian Ocean, the Middle East and Africa.
Per Aquum’s company vision is to create “no two properties alike” and to develop resorts in “desirable locations using naturally modern, ecologically responsible design”. In 2007, it launched the Lime spa concept which fuses holistic wellness rituals with modern spa therapies.
Mspa International is the spa management arm of the MHG, it owns and manages 36 spas and will sign eight more in the next 12 months. The group currently has five spa brands Anantara, Avani, Mandara, Aequalis and the Individually Tailored Spa Collection.
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