Business
Spain’s Barceló Hotel Group enters Asian market with three-hotel development in Maldives
Spanish hotel company Barceló Hotel Group has announced its entry into Asia through a joint investment in developing a three-hotel complex in Maldives.
For its entry into the Asian market, Barceló has signed an agreement with Sri Lanka’s Browns Investments PLC to develop a three-hotel complex in North Male Atoll, Maldives, and to manage five leisure properties of Browns Hotels and Resorts in Sri Lanka and the Maldives.
The leading Spanish hotel company will join Browns Investments in developing three five-star hotels with 470 keys in North Male Atoll. It will invest USD 30 million for a 33.33 per cent stake in Browns Investments’ subsidiary, Bodufaru Beach Resorts Pvt Ltd, which holds the head lease rights to three plots of lagoon in the North Male Atoll.
Barceló will be the operator for the three-hotel development, which is valued at USD 150 million.
“We are extremely pleased to be joining with The Barceló Hotel Group, a world renowned hotel chain, and extend our gratitude for their confidence in choosing the LOLC Group as their partners, in this their first venture into the Asian region. We believe this historic venture will bring great synergies for the LOLC Group’s Leisure business, particularly as we commence with this unique leisure property in North Male valued at USD 150 mn,” Ishara Nanayakkara, Chairman of Browns Group, was quoted in a statement, as saying.
Under the agreement with Brown Investments, Barceló will also manage another property (100 keys) under construction on the island of Bodufinolhu in the Maldives’ South Ari Atoll.
Barceló will also operate the iconic Nasandhura Palace Hotel in Maldives’ capital Male, which is being reconstructed as the biggest hotel and residential development in the city after a 2015 acquisition by Browns Investments and its affiliates.
“Entry into the global tourist hotspots of Sri Lanka and the Maldives has always been a part of our long-term strategic geographic expansion plan. However, entering such a new region comes with risks which are unknown to us,” Raúl González, Chief Executive Officer of Barceló Hotel Group, was quoted in a statement, as saying.
“Therefore, it was important for us to enter the region with the right partner and LOLC backed Browns Hotels & Resorts was to us the best fit. Not only were we impressed with the quality of the portfolio and the scale they offered to us in the region but also their proactive attitude towards the search for the best agreement considering the interests of both parties and expectations of joint growth in the region.”
Barceló Hotel Group, founded in Palma de Mallorca (Spain) 88 years ago and still run as a family business, operates 247 hotels in 21 countries under four different brands: Royal Hideaway Luxury Hotels & Resorts, Barceló Hotels & Resorts, Occidental Hotels & Resorts, and Allegro Hotels.
In addition to the plots of lagoon in North Male Atoll, the island in South Ari Atoll and the hotel in capital Male, Browns Investments, part of LOLC Group, one of the biggest and most diversified conglomerates in Sri Lanka, had also acquired leasehold rights to an island in Raa atoll. However, it is unclear if any development had taken place on the island.
Maldives is set to welcome 20 new resort openings this year.
Eleven new resorts came into operation in 2016, followed by at least 15 new resorts in 2017 and 20 new properties last year.
Over the past few 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 in operation to more than 140.
Singapore’s Park Hotel Group has opened its first resort in the Maldives, whilst major international hotel chains such as AccorHotels have entered the Maldives with five openings, including Mercure Maldives Kooddoo Resort, Fairmont Maldives Sirru Fen Fushi, Mӧvenpick Resort Kuredhivaru Maldives, Raffles Maldives Meradhoo Resort, and Pullman Maldives Maamutaa Resort. Brands like Hard Rock International, Capella Hotel Group, Carlson Rezidor Hotel Group, Emaar Hospitality Group, 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 launching Westin and JW Marriott in Maldives, Hilton Worldwide re-introducing its top-end luxury brand Waldorf Astoria, Aitken Spence introducing its Heritance brand, Minor Hotel Group to introduce its AVANI brand, Onyx Hospitality Group to introduce its OZO brand with its second property in the island nation, and LUX* Hotels and Resorts opening its second resort in the Maldives. The Residence by Cenizaro has also opened its second Maldivian property, whilst Thai hospitality group Centara Hotels & Resorts has announced the development of its fifth resort in Maldives.
Leading local hotel groups, including Atmosphere Hotels and Resorts, Sun Siyam Resorts, and Crown and Champa Resorts, are also on an expansion drive.
Meanwhile, the first integrated tourism developments in the Maldives — Emboodhoo Lagoon project and Rah Falhu Huraa lagoon project — are underway, with the first phase of the Crossroads Maldives integrated destination at Emboodhoo Lagoon already open to visitors.
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 500 guesthouses in operation today.
The previous government had 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.
Meanwhile, the new government has pledged to ramp up tourism promotion.
Reflecting the new government’s pledge, the state budget for 2019 includes MVR 104,200,000 (USD 6.7 million) for tourism promotion, up from MVR 34,733,333 (USD 2.2 million) this year and the previous 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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