Minor International (MINT) has announced the US$22.5m, (£13.7m, €16.5m) acquisition of a 50 per cent stake in Per Aquum’s Niyama resort in the Maldives.

Minor Hotel Group (MHG), a part of MINT, made an investment of US$4m (€3m, £2.6m) in Per Aquum in July, with plans to develop at least five additional properties over the next five years.

The 86 bedroom Niyama resort – which features a Lime-branded spa with eight treatment rooms – is home to Subsix, the world’s first underwater music club.

MINT has a number of resorts in its Maldivian portfolio, operating six luxury hotels under the Anantara, Naladhu and Per Aquum brands. In addition, MINT also operates seven restaurant brands across the Maldives through its catering arm.

William E Heinecke, chair and CEO for MINT, said: “This is now our eighth year in the Maldives and I feel as confident as ever in the potential of this country. This additional investment in Niyama sees MINT strengthen its owned portfolio in the Maldives, demonstrating our commitment to the market.”