The second Maldives Hotel Investment Conference by AHICE, Asia Pacific’s leading hotel industry conference and exhibition events series, took centre stage at Kurumba this week (25 Sep), with close to 150 leading investors, executives, operators in attendance to hear the key trends and opportunities in the nation.
AHICE Maldives – hosted by HM which and had the support of 22 sponsors and partners, headlined by Foundation Partner JLL, Principal Partner Candela and Affiliate Partner MATI – attracted leaders from across the globe, including London, Sydney, Dubai, Singapore, Melbourne, Bangkok, Delhi and more, alongside from across the Maldives.
Speakers and delegates came from leading owners, investors and operators, including Crown and Champa Resorts, Universal Enterprises, Morteza Capital, Driftwood Maldives, Atmosphere Core, Sioux Investments, Coco Grove Investments, S Hotels and Resorts, Hilton, IHG Hotels and Resorts, Hard Rock International, La Vie Hotels and Resorts, Momentum Resorts, Maxx Royal Resorts, The Lux Collective, Taj Hotels, Rotana, Lily Hotels, Meeru Maldives, The Palace Company, Baglioni and more.
AHICE Maldives also attracted delegates and speakers from the Maldives Ministry of Tourism and Environment, the Ministry of Economic Development and Trade, Maldives Airports Company, Trans Maldivian Airways, Bank of Maldives and the Maldives Islamic Bank.
The attendees were welcomed with a keynote speech by the Maldives Minister of Economic Development and Trade, the Hon. Mohamed Saeed, who looked at the immense growth opportunities for the nation.
He said the Maldives Government had extensive opportunities globally on a number of levels and tourism remained an incredibly high focus.
JLL’s Hotels and Hospitality Group CEO – Asia Pacific, Nihat Ercan, also spoke of the opportunities for the nation.
“Since welcoming its first visitors in the early 1970s, starting with just two pioneering resorts on Bandos and Kurumba, the Maldives has transformed from humble beginnings into a global gateway resort destination,” he said.
“Today, tourism contributes a striking 28% of national GDP and generates over 60% of foreign exchange receipts, underlining the sector’s central role in the nation’s prosperity.
“This year, the Maldives continues to shine. As of August 2025, tourist arrivals have already surpassed 1.31 million, buoyed by an impressive 11.5% year-on-year increase in July alone.
“Encouragingly, the Maldives Monetary Authority has now upgraded its 2025 tourism forecast to a record 2.3 million arrivals, buoyed by robust early-year performance and infrastructure enhancements, such as the new passenger terminal at Velana International Airport.
“Beyond its allure as a travel destination, the Maldives stands out as an energetic and diversified investment landscape.
“Pro-market reforms and incentives – such as 100% foreign ownership in tourism ventures, long-term leasehold options, and tailored residency pathways via the new Investor Visa Program – have made the archipelago especially appealing to owner-operators, corporates, developers, and private equity funds across Asia, the Middle East and beyond.
“We are delighted to gather once again at AHICE Maldives, celebrating this extraordinary journey, exploring dynamic investment prospects, and collectively shaping the next chapter of growth.”
Ercan also called for a moment’s silence to remember Mohamed Umar (M.U) Maniku, the Chairman of Universal Enterprises who passed away on August 30, 2025.
M.U, as he was fondly known, was responsible for opening and operating Kurumba Maldives, the first ever resort to be opened in Maldives, in 1972.
He was considered as one of the pioneers of the Tourism Industry of Maldives and was a former Chairman of the Maldives Association of Tourism Industry (MATI) and also served the government for over 19 years.
STR Sales – South and Southeast Asia, Rachel Cheu, also presented an exclusive outlook for the nation and that showed Maldives resorts are posting solid numbers, headlined by 6.2% RevPAR growth for luxury and upper upscale resorts for the year to date at July 2025.
She said year-over-year, the Maldives continues to improve in terms of occupancy and in the short term – on the books for the next 90 days at 18 August 2025 – European holidays are driving bookings.
Enzyme Consulting Founder and CEO, Andrew Cameron, who was the emcee for AHICE Maldives 2025, presented a keynote on ‘Essential Sustainability – the keys to success in 2025 and beyond’, which looked at ways the nation can further protect the precious environment the country’s resorts are all located in.
Several of the Maldives’ leading General Managers then took to the stage to provide an outlook on the accommodation industry for 2025.
Led by the charismatic Robert Williams, Head of Hotels and Hospitality Asia Pacific at Watson Farley and Williams, the panel included LUX* South Ari Atoll General Manager, John Rogers, Holiday Inn Resort Kandooma Maldives General Manager, Mark Eletr and Kurumba Maldives General Manager, Morten Junior.
The panel look at the impact of the new airport terminal, tourism opportunities for the nation and importantly, talent.
“We need to get better at understanding the new generation and find out what their challenges are,” Junior said.
“We need to look at how we can grow from within (local companies) and see what other talent we need to bring in.”
Ercan hosted an enlightening one-on-one with another legendary tourism icon of the Maldives, Crown Company Chairman, Hussain Afeef, who spoke about his career, which has included putting the nation on the global tourism map.
He spoke about how the nation innovated many tourism trends, including overwater bungalows, alongside the challenges in the early days on developing properties.
Going forward he said it was important the country looked at more than just the luxury market for growth.
“We need to have something for every segment of the market,” he said. “We are also seeing growth in every corner of the country, which is very important.”
Afeef said the Maldives should also focus more on South Asia and Asia generally to tap into further tourism growth, without being dependant on classic big inbound markets like Europe.
“That’s what we really need to be doing,” Afeef said.
Nexia Maldives Director, Climate Change and Sustainable Development, Mohamed Inaz, presented a session on how Environmental, Social and Governance (ESG) is an important strategic tool for value creation in an island hospitality industry.
“ESG practices have moved into the mainstream of tourism investment and operations,” he said.
“For island and coastal destinations, ESG is not a compliance exercise… it is a way to protect core natural assets, improve operating performance, strengthen community relationships and governance, and signal quality to guests, brands and financiers.”
He said investors and lenders increasingly expect comparable sustainability information.
“Global reporting baselines and regional rules are shaping how data is requested across portfolios,” he said.
“Major travel buyers and distributors ask for clear sustainability credentials when selecting hotels and destinations.”
Inaz said reporting was important, particularly from an investment standpoint.
“Clear, consistent ESG reporting makes it easier for European and other international buyers and financiers to evaluate Maldivian assets,” he said.
Björn Antonsson from AHICE Maldives Principal Partner Candela – a Swedish firm which designs and builds electric hydrofoil boats that deliver a smooth, silent, and premium on-water experience, perfect for luxury resorts and waterfront hotels – then took to the stage for a fireside chat on innovation.
“The Maldives is a natural beauty, being surrounded by the ocean and this unique asset needs to be conserved,” said Antonsson, Candela’s Regional CEO of Asia-Pacific.
“And this is why we are here as Candela today, to make sure Maldives remains the top destination in the world.”
He said it is a key mission of Candela to help the Maldives become one of the most sustainable destinations on the planet.
“We want to bring sustainable water transport to the world and this is especially relevant in the Maldives,” Antonsson.
He presented the results of a white paper, together with the Maldives University, on how Candela can be a key partner for Maldives to conserve its natural beauty.
“Our Candela P-12 [craft] allows to do this while at the same time offering the most modern luxurious customer experience, further differentiating Maldives from other destinations in the world,” he said.
“The holiday really starts after immigration. A silent, luxurious and fast transfer. Some of your customers will really value this over a bumpy speedboat or a scary seaplane.
“This is the most modern luxury water transport in the world, and therefore perfectly aligned with the Maldives,” he said.
Antonsson highlighted how the P-12 can reduce running costs up to 70% by fuel savings alone.
“We want to build out local capacity to serve the P-12 for the little maintenance it needs, investing in local employment, knowledge, and further bringing the costs down,” he said.
JLL Hotels’ Senior Vice President, Lingwei Tan, presented real estate outlook for 2025 and beyond that captured the firm attention of the investors in the room.
“The investor ecosystem has expanded beyond traditional players to include institutional investors like Blackstone, Ares Management, and KSL Capital Partners,” she said.
“Credit-side investment opportunities are emerging as properties from the post-financial crisis era require refinancing or repositioning.
“International interest spans multiple regions, with US$130 million in transactions completed in 2024.”
She said United Arab Emirates-based developers including Emaar and Aldar are eyeing strategic expansion into the Maldives, leveraging the destination’s four-hour proximity to Dubai, making the destination a convenient getaway for Gulf residents and a strategic node for foreign investors.
After a fantastic networking lunch at Kurumba where delegates enjoyed one of the best buffets in the Maldives, S Hotels and Resorts Chief Executive Officer, Michael Marshall, took to the stage to talk about the Bangkok-based company’s recent growth, including the success of the businesses’ Crossroads fully-integrated lifestyle destination just south of Malé.
He said Crossroads – which includes the SAii Lagoon Maldives, Curio Collection by Hilton, Hard Rock Hotel Maldives and SO/ Maldives properties, alongside a 30-berth marina, Hard Rock Café, several restaurants, a Marine Discovery Centre and shops – has seen a significant growth in day-trippers from Malé which has increased from 200 to over 650 per day.
Marshall said he was confident of further growth at Crossroads, while also saying the company’s global outlook, which spans the Pacific Ocean to the Indian Ocean and Europe, remained positive.
The Maldives State Minister of Tourism, Dr. Abdulla Niyaz, then gave the second Governent outlook for the day and he was positive on the nation’s tourism industry going forward.
“The Maldives tourism industry continues to prove its resilience,” he said.
Niyaz said the company was firmly open for further international investment in the hospitality sector.
“The Maldives is ready to grow, and we invite you to be part of this journey and invest in this paradise,” he said.
Hilton Vice President and Regional Head South-East Asia, Alex Murray, was up next on stage to talk about her outlook for the Maldives, where the company has hotels under the Waldorf Astoria, Conrad, Hilton and Curio Collection brands.
She said there was a lot of confidence in the market and demand from Hilton Honors members from around the globe and there were greater opportunities to grow tourism from across Asia alongside the traditional markets of Europe and beyond.
A Maldives investment and development outlook then followed and was hosted by JLL Hotels and Hospitality Group’s Executive Vice President and Head of Transaction Advisory Services, Calvin Le, who kicked off the session with the results of a Maldives Hotel Operators’ Sentiment Survey for 2025-26.
“Hoteliers in the Maldives are concerned about geopolitical uncertainty and the inflationary environment,” he said. “An increase in competition is another source of concern with multiple new properties anticipated to open in the next five years.
On a more positive note, Le said more than nine out of 10 hotels are anticipating an annual rise in total revenue in 2026, a higher proportion the rest of Asia Pacific.
“Improvement in Total Revenue 2026 is anticipated to be both occupancy and ADR-led for a majority of the respondents amid expected sustained tourism momentum,” he said.
A panel followed, featuring Morteza Capital Founder and Managing Director, Ghaly Murthala, La Vie Hotels and Resorts Director of Asset Management and Acquisition, Ruwani Weerasinghe and Sanken Construction Deputy Group CEO, Mevan Gunatilleke.
The insightful panel looked at building efficiently, development opportunities and a general outlook of the Maldives from an investment perspective.
“Generally, I see this as a safe market and you will get your returns,” Gunatilleke said.
An always popular session on hotel technology and innovation, which looked at what’s hot in technology and more for 2025 and beyond.
The panel was led by Enzyme Consulting’s Andrew Cameron and featured FutureLog’s Benjamin Krieg, Candela’s Marcel Fuhrer, Infor’s Shellia Chang and Shiji Group’s Steven Hopkinson.
Crown Company founder and director, Ahmed Nazeer, who is also the Secretary General of Maldives Association of Tourism Industry and a former board member of the Maldives Airports Company, was the final fireside chat for the event and he looked at his take on the industry at present.
Nazeer said he was buoyed by the growth of aviation into the country – particularly with new Air France, Malaysia Airlines, Turkish Airlines and Virgin Atlantic services – was great news for the industry.
He also said sustainability was incredibly important for the nation and said that needed to be top of mind for owners, investors and hoteliers.
One huge gap for inbound tourism into the Maldives is sports and Nazeer said he hoped that sector would be taken advantage of someday soon.
The growth tourists flowed across into the last session of AHICE Maldives 2025, the tourism outlook, which included some of the most senior executives in attendance.
Hosted by Asad Ali, the Managing Director of Driftwood Maldives (owners of Park Hyatt Maldives Hadahaa), as well as his role of Deputy Secretary General of MATI, the session included Trans Maldivian Airways’ Aishath Alaa Abdul Hannan, Maldives Airports Co’s Mohamed Mihad, Villa Resorts’ Chief Operating Officer Muaviyath Umar and Luxury Escapes’ Paul Gorman.
The session looked at the impending opening of the new terminal at Velana International Airport, which will be a ‘game changer’ for the Maldives and Mihad said it provided opportunities for significant growth to attract more flights thanks to the expanded facilities.
Hannan said Trans Maldivian Airways had further expansion plans as new resorts open across the nation and airports are upgraded.
“We see ourselves investing in more aircraft, more capacity building and to develop the human capacity so we can fly to these new destinations,” she said.
Gorman said Luxury Escapes was seeing greater attention from the company’s clientele, including more from the family market that had previously travelled to other island nations like Fiji.
“The Maldives market is evolving and the speed of that evolution is speeding up,” he said.
“It is bringing the Maldives into a more mainstream market than just aspirational for a holiday.”
Given so much demand from Australia to the Maldives, Gorman revealed Luxury Escapes would be launching direct charter flights from Melbourne direct to Malé with an Airbus A330 from late-March 2026 for three months.
“People will love it as they can fly direct to Malé and they don’t have to stop off in Singapore or Colombo,” he said.
Following a day of incredible insights, AHICE Maldives 2025 wrapped up with a networking event on the beach at Kurumba, where delegated enjoyed canapes from the renowned team of chefs at the resort, alongside premium French wines.
The 2026 AHICE Maldives Hotel Investment Conference will return to Kurumba on September 2, with sponsorships and tickets on sale from early October 2025.