Muthoot Group Becomes First Indian Company to Acquire

New Delhi, Delhi, India 
Xandari Resort & SpaAligned to its ethos of conserving uniqueness of different
cultures, Muthoot Leisure and Hospitality Services (MLHS), the hospitality
division of Muthoot Group today announced the acquisition of Costa Rica's award
winning, high-end property ‘Xandari Resort & Spa'. This is the first
acquisition by an Indian hospitality company in Central America. 
Based in Alajuela, Costa Rica, Xandari Resort & Spa a luxurious property becomes
the first overseas acquisition by MLHS. The resort was added to MLHS group in
December 2013. MLHS has also extended its collaboration with Raxa Collective to
manage the property hereon. MLHS plans to spend 200 crores in next two years 
Mr. George M George, Executive Director, MLHS, said, “The concept of
eco-friendly resorts originated in Costa-Rica and this acquisition is an
expression of our belief in promoting environment-friendly projects around the
world. Moreover, it is aligned to our vision of offering excellent service and
hospitality to our guests, complemented by exquisite exposure to the heritage of
that region. I am confident that the uniqueness of this property will appeal to
global visitors and will go a long way in strengthening our business here.
Having said that, India continues to be our focus market and we will announce
our domestic expansion plans very soon”. 
Xandari Resort & Spa is a tropical paradise of 24 individually designed villas
nestled on a 40 acre plantation overlooking the Central Valley of Costa Rica.
Each villa is beautifully designed and dressed up in a combination of barrel
vaulted ceilings, thatch roofs, colorful walls, tile floors, original artwork by
the owners, rattan chairs and traditional textiles. Adding serenity are the
expansive lawns, covered by palapas. Guests are offered therapeutic spa service,
set in the tropical garden with private palm-roofed gazebos, each with its own
Jacuzzi and view. The resort also offers farm-fresh scrumptious cuisines for
health-conscious and other guests. 
Costa Rica stands as the most visited nation in the Central American region,
with 2.2 million foreign visitors in 2011. International tourist receipts rose
to US$2.4 billion in 2012, and the lead country of origin was the United States,
followed by Nicaragua and Canada. Ecotourism draws many tourists to visit the
extensive national parks and protected areas around the country. 
The resort has received many recognitions and awards for its exceptional
hospitality. To name a few such as, Condé Nast Platinum List (awarded for 5
consecutive years on Gold List), Top 10 Central South American Resorts organized
by Travel + Leisure; Trip Advisor Travelers Choice Winner, World Travel Award
for Costa Rica's Leading Spa Resort 
Mr. George M George, Executive Director, MLHSAbout Muthoot Leisure and
Hospitality Services  
MHLS owns seven properties across India and Latin America. Cardamom County, a
conservation focused Resort in Periyar Tiger Reserve,Kerela; River Escapes, with
a fleet of houseboats endowed with Imperial guest rooms in Alleppey, Kerela;
Pampa Villa, a whispering riverfront villa in Champakkulam, Kerela; Kayal Villa,
an exotic  backwater villa at Panangad, Kerela; Spice Harbour, a Boutique hotel
in the Mattenchery, Kerela; Pearl Beach, a sparkling villa-resort in
Mararikulum, Kerela and the most recently added, Xandari Resort & Spa, a
villa-resort in Alajuela, Costa Rica. 
About Muthoot Group 
Muthoot Group's business origins can be traced back to 1887 when it started as a
small trading business enterprise in Kozhencherry, a remote village in the state
of Kerala. Since its formation, the company, under the leadership of its key
management - Shri M.G. George Muthoot (Chairman), Shri George Alexander Muthoot
(Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and
George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened
its geographic scope of retail operations. Today, Muthoot Group is a
multi-faceted business conglomerate that has been serving the nation for over
126 years. The formidable business empire comprises of 16 divisions including
Financial Services, Plantations & Estates, Education, Leisure & Hospitality,
Healthcare, Housing & Infrastructure, Infotech, Wealth Management, Money
Transfer, Forex, Media, Power Generation, Precious Metals, Securities, Vehicle&
Asset Finance, Travel Services, Muthoot Global and Muthoot Money. 
Headquartered in Kochi and having its Corporate Office in New Delhi, the company
has a dominant presence in over 21 states & 4 Union Territories of India. It
also has its presence in USA, UK and UAE too. 
Media Contact Details
Mansi Molasi ,  Weber Shandwick ,  +91-9650215869 ,
Arpita Chaturvedi ,  Weber Shandwick ,  +91-9654729343 , 
Contributed via: Bloomberg Publisher WEB Service 
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-0- Feb/13/2014 10:11 GMT
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