• bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 16 Gwei
 

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Firefly Luxury Resorts, Private Island, Azure Water 94509 (1)

Private islands, personal concierges: Maldives luxury resorts see 60% Gulf tourist surge on year-round VIP demand

Luxury resorts in the Maldives are experiencing an unprecedented boom in Gulf tourism, with some properties reporting a 60 percent surge in bookings from the region compared to last year.

This influx of wealthy individuals is driving a transformation in the island nation’s ultra-luxury hospitality sector, as resorts scramble to meet the demands of their increasingly discerning Gulf clientele.

The Residences, a high-end resort group, has reported a dramatic 60 percent increase in bookings from Gulf countries compared to 2023, according to Jing Hui Leon, Director of Sales for Asia Pacific. This growth is not isolated; other luxury properties are seeing similar trends.

Stéphane Laguette, Chief Commercial Officer at Atmosphere Core, which operates THE OZEN COLLECTION, noted that “a significant percentage of our total revenue comes from the Kingdom of Saudi Arabia and the United Arab Emirates.”

The proximity to Dubai, just a four-hour flight away, has made the Maldives an attractive option for frequent luxury getaways.

The influx of Gulf tourists is reshaping travel patterns in the Maldives. TJ Joulak, General Manager at the Waldorf Astoria Maldives Ithaafushi, observed that Gulf tourists are “opting for long stays and often extending their vacations to a week or more.”

This trend varies among resorts, with some seeing an increase in four-night stays instead of the typical three-night visit.

Within the Middle East, THE OZEN COLLECTION’s top three source markets are Saudi Arabia, the UAE and Kuwait for both its resorts, Laguette revealed. However, “macro-environmental geopolitical issues” arising from key source markets for the destination have caused shifts within seasons over the last two years, “mainly from different countries within Asia and Europe, which is a large portion of the inbound contribution to the destination,” he added.

The customized experiences have fueled a growing demand for year-round bookings which have effectively reduced the impact of traditional seasonal variations. Historically, the peak tourist season in the Maldives has typically run from December to March. However, this trend of year-round appeal is expected to persist as resorts compete for travellers from the region, further blurring the lines between high and low seasons.

Despite the focus on luxury, sustainability remains a priority for many resorts. THE OZEN COLLECTION has implemented solar energy systems across its properties, resulting in significant reductions in diesel use and CO2 emissions. As of May 2024, they reported 8,890 solar panels installed across seven resorts, producing 16,500 MWh of clean energy.

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