Business
Maldives welcomes 13 new resorts in 2017
Maldives has welcomed 13 new resort openings this year, data from the country’s central bank has revealed.
In its economic bulletin for the third quarter ending September, the Maldives Monetary Authority (MMA) said the operational bed capacity of resorts increased annually by 15 percent and totalled 27,955 beds during the quarter. This largely reflects the opening of 13 new resorts, it added.
“Mirroring these developments, the average occupancy rate of resorts fell to 68 percent in Q3-2017 from 73 percent in the corresponding quarter of 2016,” the bulletin read.
President Abdulla Yameen Abdul Gayoom has recently reiterated his electoral pledge of opening 50 new resorts in the Maldives during his five-year term.
Eleven new resorts came into operation last year.
According to MMA, activity in the tourism sector started to pick up during the third quarter of the year after a slowdown in the previous quarter, reflecting the seasonal pattern of the sector.
MMA said tourist arrivals grew by 14 percent in quarterly terms to reach 340,469 in Q3-2017. In annual terms, tourist arrivals registered a five percent increase, maintaining the same pace of growth when compared with the corresponding quarter of 2016, it added.
The annual growth in arrivals was attributed to a significant increase in arrivals from Europe, followed by the Americas and the Asia and Pacific region. Russia, Germany, Italy and Spain were the main contributors to the growth in arrivals from Europe, while the US dominated the Americas region during the quarter, the central bank said.
“On the other hand, growth in arrivals from the Asia and Pacific region, stemming from higher arrivals from India and Thailand during the quarter was largely offset by the sizeable decline in arrivals from China,” the bulletin read.
According to MMA, the annual growth in resort bed nights recorded a strong growth of six percent during the quarter, reflecting higher arrivals coupled with a slight increase in the average duration of stay, which recorded six days in Q3-2017. However, total tourism receipts for the quarter are estimated to have dropped by two percent in annual terms, which can be attributed to a reduction in the rates, the central bank said.
Over the past five years, dozens of uninhabited islands have been leased to local and foreign resort developers, resulting in a rapid increase in new resort openings.
Singapore’s Park Hotel Group has opened its first resort in the Maldives, while major international hotel chains such as AccorHotels have entered the Maldives with two openings and two in the pipeline. Brands like Hard Rock International, Capella Hotel Group, Carlson Rezidor Hotel Group, Emaar Hospitality Group, Mövenpick Hotels and Resorts, Baglioni Hotels, Emerald Collection and Meliá Hotels International have announced their entry to the Maldives as well.
Existing international players are also upping their presence, with Marriott International set to launchWestin brand, Hilton Worldwide to re-introduce its top-end luxury brand Waldorf Astoria, Aitken Spence Hotels and Resorts to introduce its Heritance brand, Minor Hotel Group to introduce its AVANI brand, and LUX* Hotels and Resorts to open its second resort in the Maldives. Centara Hotels and Resorts has also signed a management agreement for its fourth resort in the tropical destination.
Leading local hotel groups, including Atmosphere Hotels and Resorts, Sun Siyam Resorts, and Crown and Champa Resorts, have also announced expansion plans.
Meanwhile, the first integrated tourism developments in the Maldives — Emboodhoo Lagoon project and Rah Falhu Huraa lagoon project — are underway.
However, this rapid expansion of supply has resulted in a slowdown in growth in tourism, after years of double-digit growth. The government has set an ambitious target of attracting 1.5 million tourists by the end of this year, but the country has been struggling to create demand amidst a significant increase in bed capacity.
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 450 guesthouses in operation today.
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.
Business
BBM’s ‘Studio of Culinary Excellence’ opens at MNU to bridge classroom, industry
The best way to secure the future is to create it.
Creating that future through specific, purposeful initiatives is what drives people of purpose—and, in turn, moves us all closer to the future we desire.
The Maldives is a compelling case study of a tourism-driven economy. Look around and ask why an event is being staged, what someone is working on, or where a new initiative is leading, and the answer will often point to the hospitality sector. Securing the future, therefore, is inextricably linked to strengthening and advancing that sector.

Here, “strengthening” means making the sector’s contribution more sustainable; ensuring that a greater share of its growth benefits the community; continuing to offer a compelling value proposition to the discerning global traveller; and ensuring that visitor experiences continue to generate an unparalleled reputation and valuable referrals.
To achieve these outcomes in the future, it is essential that current and future generations of the local community engage actively with the industry. Making hospitality appealing and aspirational, enhancing the quality of delivery and service, and building a pipeline of skills and talent into the sector are areas in which initiatives, inspiration, infrastructure and investment should be concentrated.

It is firmly in this context that Mr Ismail Hilmy, Chairman and Managing Director of BBM, initiated the establishment of a modern, exceptionally well-equipped and thoughtfully designed model kitchen, aptly named the Studio of Culinary Excellence. By donating the Studio to MNU, under whose auspices it will serve the Maldivian culinary community, Mr Hilmy is responding directly to the need for deeper community engagement. At the heart of BBM’s framework for industry-outreach initiatives— “Because tomorrows start today”—is Mr Hilmy’s ethos of fostering engagement and vibrancy in the industry.
“For our students, the gap between the classroom and a working resort kitchen has always been the hardest one to close,” said Dr Shehenaaz Adam, Vice Chancellor of the Maldives National University. “The Studio of Culinary Excellence closes that gap. Students can now train on the same equipment and to the same standards they will encounter on their first day in the industry. We are grateful to BBM for a partnership that goes well beyond a donation, and we look forward to the Studio becoming a place where the university and the industry learn from one another.”

The Studio therefore creates an opportunity to develop a pipeline of skills and talent in service of the industry.
“Embedding purpose in our work has been an ongoing endeavour at BBM. It keeps us connected to our stakeholders and builds insight, understanding and trust. Being a meaningful partner to academia as we move into the future gives us a great sense of fulfilment and guides our initiatives under the banner, ‘Because tomorrows start today,’” said AVS Subrahmanyam, Chief Operating Officer of BBM.
But what is the value of physical infrastructure without the corresponding spark of aspiration and ambition?

As Ali Afrah Hassan, Executive Representative at Chairman’s Office – BBM, aptly observed: “The Studio offers students and members of the community hands-on experience with world-class equipment, together with knowledge-sharing masterclasses. Who knows—in the not-too-distant future, a Michelin-starred Maldivian chef may fondly credit some of their inspiration to time spent at the Studio!”
Now that is the mind and heart in sync—working towards a future that is aspirational, ambitious and entirely attainable.
Business
BBM Hulhumalé Phase 2 opening promotion winner receives Honda Airblade
Bestbuy Maldives (BBM) has presented a brand-new Honda Airblade motorbike to the winner of a lucky draw held to mark the opening of its newest wholesale outlet in Hulhumalé Phase 2.
The outlet, located at Lot 20286 on Nirolhu Magu, opened on 16 February 2026 as part of BBM’s expansion of its wholesale operations.
To celebrate the opening and thank customers for their continued support, BBM introduced a special lucky draw exclusively for customers who made purchases from the new outlet on its opening day.

Customers who purchased products during the opening were eligible to enter the draw, with a Honda Airblade motorbike offered as the grand prize.
The lucky draw was conducted on 13 August 2026, with Ibrahim Shifaz of Vagthun Vaguthah outlet selected as the winner.
Shifaz was recently presented with the ceremonial key to the Honda Airblade by AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives.

The promotion formed part of BBM’s activities surrounding the opening of its Hulhumalé Phase 2 outlet, which provides customers with access to the company’s range of wholesale products from the growing residential and commercial area.
Bestbuy Maldives is a supplier and distributor serving businesses across the Maldives, including customers in the hospitality, food service and retail sectors.
Business
Football legends receive FIFA World Cup 2026 match balls signed by President Muizzu
Male’ Aerated Water Company (MAWC), the authorised bottler of The Coca-Cola Company in the Maldives, on Thursday hosted the Official FIFA World Cup 2026™ Match Ball Handover Ceremony, presenting Football Legends of Maldives with official FIFA World Cup 2026™ match balls signed personally by Dr Mohamed Muizzu, President of Maldives.
Held in partnership with the Ministry of Youth Empowerment, Sports and Fitness, the ceremony recognised former national footballers whose achievements, service and influence have helped shape football in the Maldives and inspired generations of players and supporters.
The Coca-Cola Company has been an official partner of FIFA since 1974, making it one of the longest-standing partnerships in the global sport. For MAWC, the handover brought that global partnership to life locally by connecting the FIFA World Cup with people who have contributed to Maldivian football history.
As the sole authorised Coca-Cola bottler in the Maldives for over 35 years, MAWC has supported local sport through partnerships, campaigns and community initiatives. The ceremony continued that commitment by recognising the legacy of players who represented the Maldives and contributed to the growth of football in the country.
“Maldives’ football legends have given generations of supporters moments of pride and have played an important role in shaping the country’s sporting history. At MAWC, we believe recognising their contribution is as important as supporting the next generation. Through our partnership with Coca-Cola and FIFA, and in collaboration with the Ministry of Youth Empowerment, Sports and Fitness, we are honoured to celebrate their legacy. These match balls are a token of our appreciation for what they have given to Maldivian football,” said Milind Derasari, Chief Operating Officer, MAWC.
Adding to the excitement of the football season, MAWC ran a nationwide FIFA World Cup 2026™ consumer promotion from 21 March to 24 May 2026. Eight winners received an all-expenses-paid experience for two to attend a FIFA World Cup 2026™ match. Hundreds more won Coca-Cola branded merchandise and other prizes during the campaign, bringing the excitement of the world’s largest football tournament to consumers across the Maldives.
MAWC remains committed to building partnerships that support the development of sports across the Maldives, working with the Government of Maldives and other partners.
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