Asia's luxury operator, Hong Kong based Shangri-la Hotels & Resorts has purchased the 117-key, Holiday Inn Male', from the Male' Hotel Association.

The hotel is currently managed by InterContinental Hotels Group, located in the busy administrative and business district of Male' and opened its doors for business in the last quarter of 2009.

It is expected that the hotel will operate under the Traders brand, however that has not been confirmed as yet.

Dhivehi Observer: Shangri-la currently operates a super-luxury class resort at Villingili in Addu Atoll. Shangri-la also secured a bid from the government in 2007 to build and operate a 100-key hotel at the southeast corner of Male.