Hospitality Industry in Maldives - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Hospitality Industry in Maldives is segmented by Type (Chain Hotels and Independent Hotels), by Segment (Resorts/Marinas, Guesthouses, Safari vessels and Hotels).

Hospitality Industry in Maldives Snapshot

Hospitality Industry in the Maldives Overview
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 9 %
Hospitality Industry in the Maldives Key Players

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Market Overview

The hospitality industry in the Maldives has been developing on “One Island, One Resort” and has become the best yielding market in Asia. With a greater number of the scheduled opening of new resorts and guesthouses with almost 2,000 new rooms/keys addition, the hospitality industry in the islands is attracting more investors. The supportive government policies in the hospitality industry in the Maldives has become one of the pillars of economic growth. With strong Tourism which is the largest sector which consists of almost 25% of the total Gross Domestic Product (GDP) of 2018, the hospitality industry is gaining more significance. According to the Ministry of Tourism, the occupancy rate (OR) increased by 1% and reached 62.1% in 2018, and the Average Length of Stay (ALOS) increased to 6.4 in 2018 from 6.2 in 2017.

Scope of the Report

A complete background analysis of the Hospitality Industry in the Maldives, which includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview is covered in the report.

By Type
Chain Hotels
Independent Hotels
By Segment
Resorts/Marinas
Safari Vessels
Guesthouses
Hotels

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Key Market Trends

The Growing Number of Tourists to the Maldives are Driving the Market

The island nation the Maldives is welcoming a growing number of visitors to the nations from 2010. The country welcomed more than 1.4 million international visitors in 2018, at a 6.8% year on year growth rate. According to the Ministry of Tourism, China constituted 19.1% of total international arrivals followed by Germany with 7.9% of the total share. The number of tourists from China was reduced when compared to 2017 with 7.6% whereas Germany recorded a growing year on year percentage with a 4.8 growth rate. Visitors from the United Kingdom, Italy and India are on the rise with 10.2%, 18.5% and 9% year on year growth rate. Visitors from the European Union are on the rise and have been occupying the highest share since 2016. Around 48% of the total arrivals were from the European Union alone in 2018. Due to the decline in travelers from China made Asia lose its share at the same time the year on year increase in the number of visitors from Italy, Russia, France citizens made European Union occupy the first place.

Hospitality Industry in the Maldives Trends

The Guesthouse Segment is Dominating the Overall Industry

There are more than 850 accommodation establishments in the Maldives as of the first half of 2019 that can be categorized into Resorts or Marina, Hotels, Guest Houses and Safari Vessels. The Guesthouse segment occupies a high share of the total hospitality industry segment with around 500 properties. The Safari Vessels and Resorts occupy equal share with around 150 properties each. The number of guest houses grew by 14% in 2018 and is gaining more momentum by becoming a fast-growing segment and has been boosting the growth and development of industry in the Maldives.

Hospitality Industry in the Maldives Share

Competitive Landscape

The hospitality industry in the Maldives is a combination of international hotel brands that are expanded into the country and domestic chains and independently performing resorts. Maldives welcomes 100% Foreign Direct Investment (FDI) in the Hospitality Industry and has been attracting a large number of investors in its territories.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Impact of COVID-19 on Hospitality Industry

    4. 4.4 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors

    5. 4.5 Leading Cities in the Maldives with Respect to Number of Visitors

    6. 4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry

    7. 4.7 Technological Innovations in the Hospitality Industry

    8. 4.8 Insights on Shared Living Spaces Impact on the Hospitality Industry

    9. 4.9 Insights on Other Economic Contributors to the Hospitality Industry

    10. 4.10 Value Chain Analysis

    11. 4.11 Porter's Five Forces Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chain Hotels

      2. 5.1.2 Independent Hotels

    2. 5.2 By Segment

      1. 5.2.1 Resorts/Marinas

      2. 5.2.2 Safari Vessels

      3. 5.2.3 Guesthouses

      4. 5.2.4 Hotels

  6. 6. COMPETITVE INTELLIGENCE

    1. 6.1 Market Concentration

    2. 6.2 Company profiles

      1. 6.2.1 Marriott International

      2. 6.2.2 Hilton Worldwide

      3. 6.2.3 InterContinental Hotels Group

      4. 6.2.4 AccorHotels

      5. 6.2.5 Hyatt Hotels Corporation

      6. 6.2.6 Four Seasons Hotels and Resorts

      7. 6.2.7 Kurumba Maldives

      8. 6.2.8 Sun Island Resort

      9. 6.2.9 Olhuveli Beach & Spa

      10. 6.2.10 Kuredu Resort & Spa

      11. 6.2.11 Kuramathi Island Resort

    3. *List Not Exhaustive
    4. 6.3 Loyalty programs offered by Major Hotel Brands

  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OUTLOOK OF THE SECTOR

  9. 9. APPENDIX

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Frequently Asked Questions

The Hospitality Industry in Maldives market is studied from 2016 - 2026.

The Hospitality Industry in Maldives is growing at a CAGR of 9% over the next 5 years.

Accor SA, InterContinental Hotels Group, Marriott International, Inc, Hilton Hotels and Resorts, Hyatt Hotels Corporation are the major companies operating in Hospitality Industry in Maldives.

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