JLL’s Asset Management team, through their exposure as the leading hotel advisor in the Maldives, have been advising their Asset Management Clients and Private Equity Firms, Legal Firms, and both Lending and Investment institutions on almost 30 hotel assets in the past few months through: Stay Open vs. Closure analysis, Closure, Staff program and payroll, Government guidelines, Tour Operators and Airlines status, Loan renegotiations, Manning guides, Zero based budgeting, Monitoring cash flow position and projections, Comprehensive review of operations and Re-opening plans, forecasting/budgeting and Sales and Marketing Plans?
JLL’s Asset Management initiatives evolve during times of market distress; crisis management and recovery planning are currently front-of-mind issues for their teams. JLL not only focuses on cost saving initiatives to combat the now, but look to the future; how do we ensure our success when markets rebound? History has taught us that the Maldives is a resilient destination through recovery from natural and political disasters and instability. However,
- Covid-19 has had a dramatic effect on the hospitality industry the world over
- Occupancy rates in the Maldives are forecasted to be below 2019 levels for next couple of years
- The Maldives in particular has also been affected by the drop in International arrivals, but also that of the disappearance of many of its key feeder markets and airlift