Consumer Discretionary

<p>I have been part of various resorts in the Maldives over the last ten years, and it has been amazing to see the industry grow year after year. The new resorts keep challenging the previous in terms of offerings to make their guests' stays even more special.&nbsp;</p><h2><span style="font-size: 14pt;">Features of Hospitality Industry in Maldives&nbsp;</span></h2><p>The Maldives is a truly unique destination, and although each resort has palm trees and white sand beaches, they vary in size, proximity to Velana International Airport, food and beverage offerings, and their core service focus.&nbsp;</p><p>A quick and simple research online will not suffice when you have some specific tick points on your "bucket list." For instance, are you coming for a short or long visit? If for a short trip, then the best is probably a resort with speedboat transfers from the airport.&nbsp;</p><p>However, seaplane flights are something unique and not to be missed. Are you coming for relaxing and pampering or activities? The islands generally have something for everyone in the group, but some resort spas are simply to die for, whereas others only offer the general body treatments to be expected in any city Day Spa.&nbsp;</p><p>Kurumba received its first guests back in 1972, which has continued to grow; however, compared to the most recent Waldorf Astoria, Patina, and Ritz Carton, guests will experience a very different level of hospitality in terms of Maldives luxury.&nbsp;</p><p>So far, I have been blessed to stay as a guest at 65 resorts out of the luxury listing, and they are all uniquely different in some form or the other. Large vs. smaller lagoons, reefs being close to your villa vs. those you must join an excursion to go Snorkel on the House Reef, or small islands with intimate dining to islands with over 15 dining options. As said, a simple online search, book, and go might mean you choose the wrong one. The best is always to know exactly what you wish to enjoy during your well-deserved break and then spending proper time on the research to ensure you book your dream spot.&nbsp;</p><p>Guests are genuinely fascinated about the operations and love to hear about how the resort team work and lives on the island, where they come from, and how we produce water and electricity. Some resorts have the magic touch from their team that you arrive as a guest and leave a long-time friend of the team and island.&nbsp;</p><p>True, Maldives is a bucket list destination, as most guests tell us on arrival that this was a one-in-a-lifetime plan, but then at departure already is planning their return visit to the destination or even the same resort.&nbsp;</p><p>Is it that expensive? No, you can spend $50 per night or more than $50 000 per night, depending on your budget and expectation.&nbsp;<br />Looking forward to seeing what the following years have installed for the destination!</p><p>&nbsp;</p><p><span style="font-size: 10pt;"><em>This article was contributed by our expert <a href="https://www.linkedin.com/in/riaandrever/">Riaan Sinclair-Drever</a> &nbsp;</em></span></p><h3><br />&nbsp;<br /><span style="font-size: 18pt;">Frequently Asked Questions Answered by Riaan Sinclair-Drever</span></h3><h2><span style="font-size: 12pt;">1. What are the components of the tourism and hospitality industry in the Maldives?</span></h2><p>Hospitality in the Maldives is split between Accommodation, Recreation &amp; Entertainment, Travel Services, Events, plus Food and Beverage.</p><h2><span style="font-size: 12pt;">2. What major challenges is the hospitality industry facing in the Maldives?</span></h2><p>In general, logistics is a large operational challenge for the resorts, as mainly all products have to be imported. So, this takes effort to pre-plan and coordinate, especially when managing expenses. With the current climate, fuel prices have increased the cost of items significantly, considering it has always been an expensive part of the operations. Then there is the power, which is generated by the resort, so with fuel prices of late, the Utility costs keep climbing at an alarming rate. Resorts do their best these days to offset with Solar systems but are not yet able to generate the volume needed for the day-to-day running.</p><h2><span style="font-size: 12pt;">3. What do you think is the competitive advantage of a particular hotel industry if it utilizes hotel management software solutions?</span></h2><p>Technology plays a significant role in most operations for cost management and functionality. There are far more advanced systems these days and much better integration between them; this allows for a much smoother delivery of service and streamlined efficiency.</p><h2><span style="font-size: 12pt;">4. How the hospitality contributes to the Maldives' economy?</span></h2><p>Hospitality directly contributes nearly 30% to the GDP, and probably another large chunk comes from Foreign Exchange.</p><p>&nbsp;</p>