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Maldives resorts post gains in bookings, revenue in Q1

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Tourist resorts in Maldives observed an increase in total revenue and bookings in the first quarter of the year, a survey by the country’s central bank said Tuesday.

In its Quarterly Business Survey, Maldives Monetary Authority (MMA) said due to the peak season for the tourism industry, revenue of resorts and bookings increased in Q1 2017 compared to the previous quarter; net balances of 76 percent and 61 percent respectively. Looking at average room rates, 81 percent of respondents reported an increase in Q1 2017 compared to Q4 2016, it added.

The survey, which was carried out from March 28 to April 10, showed that 54 percent of businesses in the tourism sector had no change in their financial situation compared to the previous quarter, while 37 percent reported an improvement in the first quarter of the year. It also said that 60 percent and 62 percent of tourism sector establishments reported an increase in labour related costs and input prices respectively.

According to the survey, with the peak season of the tourism sector coming to an end in the second quarter, most of the businesses in the tourism sector expect total revenue, resort bookings and average room rates to decrease in Q2 compared to Q1 2017. Sixty-six and 63 percent of the businesses anticipate an increase in labour costs and other input prices in Q2 compared to Q1, but 49 percent plan to increase their capital expenditure in Q2 compared to Q1 (net balance of 43 percent), it said.

The survey noted that 51 percent of respondents expect their financial situation to remain the same in Q2 2017 compared to Q1 2017, while 34 percent anticipate an improvement.

“In analysing the factors that limit growth opportunities for businesses in the tourism sector, the most significant factor highlighted by the businesses was competition within the sector. Additionally, insufficient demand, cost of labour, and shortage of skilled labour were also reported as some of the constraints,” the survey, which was participated by 96 business establishments, read.

MMA’s office building in capital Male. PHOTO/ MIHAARU

MMA has earlier posted a strong growth forecast for the tourism industry, saying that the strong growth observed in the tourism sector during the latter part of last year is expected to continue this year. Mirroring the positive outlook for the sector, the authority projected bed nights growth to be at five percent in 2017.

Despite the strong growth forecast by the central bank, Maldives has experienced another slowdown in tourist arrivals in the first quarter of the year. January saw a significant increase in arrivals, but growth has slowed down since then with a 2.1 percent drop in arrivals in March.

Leading global market research and analysis firm STR has said that the Maldives tourism industry observed a moderate performance in the first quarter of the year.

A report analysing Asia Pacific hotel industry performance shows that occupancy fell by one percent to 69 percent in the Maldives during the first quarter. Average Daily Rate (ADR), however, increased by 2.3 percent to MVR13,044.63 (USD846.5) and Revenue Per Available Room (RevPAR) was up 1.3 percent to reach MVR9,000.17 (USD584).

RevPAR growth was moderate in the Maldives throughout the quarter despite a 10.3 percent increase in January, which was due to a 32 percent rise in arrivals from China during the Spring Festival Golden Week holiday. RevPAR growth for the quarter, however, became muted with declines in both February (-3.8 percent) and March (-4.2 percent).

Over the past three years, dozens of uninhabited islands have been leased to local and foreign resort developers. Several international brands have entered into the market, increasing the number of resorts to 120. That number is set to increase as the government has announced the opening of some 20 new resorts by the end of this year.

Along with the new resort openings come the challenge of increasing demand from budget travellers who choose guesthouses over luxury resorts that the Maldives is known for. The guesthouse sector has rapidly expanded with over 300 guesthouses in operation today.

Government has come under fire from private organisations representing industry stakeholders such as the Maldives Association of Travel Agents and Tour Operators (MATATO) over the lack of effort and budget to promote the Maldives as a destination.

The government has recently announced new steps to maintain a structured growth in tourism, including a slowdown in leasing islands for resort development and increased marketing efforts in key markets such as China and the Middle East in order to reach an ambitious target of a record 1.5 million tourist arrivals this year.

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Bestbuy Maldives, Atmosphere Core elevate chef training with Michelin-star masterclass

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Bestbuy Maldives (BBM) brought together 100 chefs from leading resorts and restaurants across the country on 24 November for an exclusive culinary masterclass led by Italian One-Michelin-Star Chef Pasquale Palamaro. Held at Hulhule Island Hotel (HIH), the full-house session marked a key highlight of the ongoing “Mediterranean Soul, Maldivian Heart” culinary series presented by Atmosphere Hotels & Resorts in collaboration with BBM.

The masterclass formed the Malé City chapter of the broader programme, which features a lineup of events hosted at RAAYA by Atmosphere and VARU by Atmosphere throughout November 2025. The HIH masterclass served as a platform for professional development, skill exchange, and hands-on learning for chefs from some of the Maldives’ most distinguished culinary teams.

Chef Pasquale, celebrated for his work at Indaco Restaurant in Amalfi, guided participating chefs through a series of live demonstrations that reflected his signature philosophy—one that emphasises intuition, simplicity, and a deep respect for natural ingredients.

“Cooking, to me, is a dialogue with nature — an art of transforming simplicity into beauty. Bringing Indaco’s spirit to the Maldives is an opportunity to merge two coasts and two cultures through taste, technique, and emotion,” he shared during the programme.

Participants explored Mediterranean-inspired methods adapted to Maldivian produce, with Chef Pasquale showcasing dishes rooted in coastal heritage and contemporary craftsmanship. The session also encouraged discussion around ingredient integrity, sustainability-led cooking, and the evolving expectations of today’s luxury diners.

The fully subscribed masterclass reaffirmed BBM’s long-running commitment to cultivating professional excellence within the Maldives’ hospitality sector.

As the authorised distributor of globally renowned culinary and F&B brands, BBM has built a reputation for its Masterclass Series, which brings international expertise to local professionals through practical workshops and high-level training. This latest edition added a Michelin-starred perspective to the growing body of knowledge BBM continues to nurture across the industry.

Ali Afrah Hassan, Head – Human Resources, Administration & Corporate Affairs at BBM, highlighted the importance of consistent capacity building in the sector.

“This masterclass reflects our ongoing commitment to strengthening the skills of the Maldivian culinary community. By creating opportunities for chefs to learn directly from international experts, we help broaden professional exposure and support the industry’s growth. BBM will continue to invest in platforms that uplift local talent and contribute to raising the overall standard of hospitality in the Maldives,” he said.

The masterclass follows two immersive days at RAAYA by Atmosphere earlier in the month, where guests joined farm experiences, tasting sessions, and a hands-on workshop before a five-course dinner curated by Chef Pasquale. The series will continue with a 4-Hands Dinner at Kaagé on 27 November and a masterclass with a five-course dinner at NÜ on 28 November at VARU by Atmosphere.

Anupam Banerjee, Vice President, Food & Beverage at Atmosphere Core, emphasised how the collaboration bridges traditions and culinary ideologies.

“All our island resorts have long been recognised for their culinary offerings,” he noted. “Through Chef Pasquale’s artistry and our island-inspired ethos, we are crafting an evocative dialogue between Mediterranean and Maldivian gastronomies that not only captivates the palate but also champions environmental stewardship and celebrates the cultural richness of both regions.”

For attending chefs, the session offered more than demonstrations—it provided the rare opportunity to learn directly from a Michelin-starred figure whose approach blends innovation with a respect for locality. Many participants described the workshop as an opportunity to refine technique, discover new applications for familiar ingredients, and build valuable connections within the professional community.

With strong engagement and enthusiastic feedback from attendees, the masterclass stands as another milestone in BBM’s long-standing role in elevating culinary standards in the Maldives.

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2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025

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Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures

Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent

BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.

  • BBM Chairman’s Trophy for the Best Maldivian Competitor.
  • Most Promising Young Chef Award for emerging talent.
  • Global exposure programs for Maldivian chefs through sponsored participation in international events.
  • Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.

Investing in the Future of Hospitality

Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.

BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence

In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.

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Bestbuy Maldives, MNU forge partnership to advance hospitality education

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The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.

The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.

This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.

Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.

Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”

Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.

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