The Maldives Tourism Development Corporation (MTDC) has opened the bidding process for Herathera Island Resort, a 456 bed property in Addu atoll.
The MTDC recently paid US$3.5 million to end a long-running court dispute with former management Yacht Tours, after the company stopped paying rent claiming the MTDC had failed to fulfil a contractual obligation to build a channel between the resort and the adjoining island of Hulhudhoo.
The MTDC said it was searching for an “experienced and capable party”, with a minimum of five years experience running a luxury hotel of over 300 beds.
It also said the successful bidder would be required to pay a US$7-10 million non-refundable deposit “to ensure the company is capable of managing the resort.”