April 28, 2022

Following a pandemic-induced downturn in 2020, international visitation to the Maldives rebounded strongly in 2021, rising by 138% year-on-year. The solid recovery has continued into the early months of this year, with more than 394,000 arrivals registered over the course of Q1 2022. Momentum is expected to continue to accelerate as connectivity with international markets improves.

The Maldives remained a top performing hotel market across Asia Pacific in 2021, with performance expected to further strengthen this year.

Approximately US$406 million-worth of hotels and resorts were traded over the course of 2021 in the Maldives, marking the highest annual total ever recorded. These buoyant transaction volumes reflect upbeat investor sentiment and a strong belief in the recovery of the Maldives’ hotel market, with rebounding international tourist travel, improving occupancy, strengthening hotel performance, lengthier stays and product diversification identified as key investment themes for the sector. 

This report analyses the latest developments in the Maldives’ hotel sector, evaluates hotel performance and supply, and explores the key investment themes underpinning the market’s recovery and future outlook for the sector.

Click Here to view the full report.

Key Contacts

Steve Carroll

Head of Hotels & Hospitality

Capital Markets Asia Pacific

+65 9179 1439

[email protected]

Chris Ely 
Head of Asset Management
Hotels & Hospitality, Capital Markets Asia+65 8142 2223
[email protected]

Aaron Desange

Head of Capital Markets

Capital Markets, Western Australia

+61 408 022 878

[email protected]


Stella Grant

Associate Director

Capital Markets, Asia Pacific

+65 6347 8751

[email protected]


Nicholas Volk


Capital Markets, Western Australia

+61 400 777 557

[email protected]


Thu Tran

Senior Analyst

Hotels & Hospitality Asia Pacific

+65 9233 7417

[email protected]

Helena Gomes  
Project Management Global Lead Hotels & Hospitality
Project Management Asia Pacific
+65 81893742
[email protected]

Jiahao Zhang  
Valuations Lead
Hotels & Hospitality
Valuations & Advisory Services Singapore+65 9773 7470
[email protected]