Maldives extends resort rent deferral to 3 years for maintenance, upgrades
The Ministry of Tourism has introduced an amendment to its regulations, extending the rent deferral period for resorts undergoing maintenance or redevelopment to a maximum of three years. This extension applies if the resort suspends operations entirely during the upgrade process. The update, published in the government gazette, marks the third amendment to the Regulation […]
Maldives faces $1.7b annual economic loss from 88 unfinished resorts
The Maldivian tourism industry is grappling with a substantial setback as 88 resorts designated for development remain incomplete, resulting in an annual economic loss of $1.7 billion, as per the Finance Ministry’s fiscal statement for 2024-26. Maldives, heavily reliant on tourism, considers these unfinished resorts a linchpin of its economic prosperity. However, these 88 islands, […]
Record number of hotels under construction in the Asia Pacific region
According to STR Global there are currently 2,435 hotels totalling 562,781 rooms Under Contract in the Asia Pacific region.
