Untitled - Hospitality Maldives

I m p r e s s u m
Published by
Beyond Hospitality Pvt. Ltd.
H. Always Happy House, L2
Asrafee Magu
20034 Male’
Republic of Maldives
www.bynd.co.uk
Managing Editor
David Kotthoff
editor@hosmal.com
Advertising
Hassan Hisham
ads@hosmal.com
Design & Layout
Hawwa Sithna
info@bynd.co.uk
Print
Novelty Printers & Publishers Pvt. Ltd.
Contributors
Anantara Maldives
Bert Van Walbeek
Bob Seldon
Corbin Ball
Daydots
Doug Kennedy
Dr. Mark Clark
Gina Abernathy
Hulhule Islan Hotel
Jorely Mathew
Kelley Robertson
“Maldivian”
Neil Salerno
Rick Hendrie
Roberta Nedry
ServSafe Essentials
Soneva Fushi & Six Senses Spa
Shangri-La Hotels & Resorts
Schihab A. Adam
www.ehotelier.com
Cover
Soneva provides the benchmark by which
resort experiences in the Maldives are
measured, and now the multi-award-winning
Soneva Fushi has once again moved that mark
by opening the only resort based astronomical
observatory of its kind in the world. Set deep
within the resorts dense lush jungle, the
observatory provides a unique experience for
anyone who has looked up at the night sky
and found a desire to learn more about the
universe and its surrounds. Read more on
page 24...
Disclaimer
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design, layout) may be reproduced without
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Hospitality Pvt. Ltd. or any of its associates
cannot be held responsible for the misuse
of the information and intellectual property
provided in this magazine. Opinions expressed
in this magazine are those of the writers and
not necessarily endorsed by the publisher.
Dear friends and colleagues,
Welcome to the 21st edition of Hospitality Maldives.
These days we find ourselves in interesting and challenging times. Worldwide stock
markets reach new all-time lows on a daily basis, tourism arrival figures are below their
expectations and the first ever multi-party election in the history of Maldives remained
inconclusive after its first round of votes. The million dollar question: Where and what will
all this lead to?
More than many others, resort owners and developers are feeling the downturn of the
worldwide economy. Prices for construction materials and logistics are on the incline since
months and with credit institutions and banks more and more reluctant to fund projects,
many new developments are on hold for shortage of cash. Of the 70+ islands and plots
of land that the government has leased out for new resort or hotel developments over the
past four years, only five have gone into operation to date with many projects not even
having started; a strong indicator for shortage of funds throughout the industry as well as
a general lack of foresight and planning.
Many owners are now forced to sell their leases and/or resorts at prices that just a few
months ago would have been considered a bargain. Still, potential buyers or lessees are
hard to come by. In addition, the lack of tourism arrival growth of recent months combined
with political uncertainty are two more factors putting off investors and banks alike, at
least for now. Only time will tell us a direction, fingers crossed that it’s a favorable one and
that markets will recover soon.
Yours in hospitality,
David Kotthoff
editor’s note