SO/ Maldives Grand Opening

S Hotels and Resorts PCL (SET: SHR), in collaboration with Singha Estate PCL (SET: S), recently announced the grand opening of SO/ Maldives, marking a significant milestone in the evolution of CROSSROADS Maldives, the Indian Ocean’s premier fully-integrated leisure destination.

The unveiling of SO/ Maldives is a watershed moment for Maldivian tourism, signifying the completion of CROSSROADS Maldives and heralding a new era of luxury and sophistication in the region.

With its strategic positioning and unparalleled guest experiences, SO/ Maldives is poised to redefine hospitality standards and contribute substantially to S Hotels & Resorts’ financial performance in 2024 and beyond.

CROSSROADS Maldives: A Game-Changer in Hospitality

Since its inception in September 2019, CROSSROADS Maldives has emerged as a transformative force in the Maldivian tourism landscape. Comprising three distinctive resorts—SAii Lagoon Maldives, Hard Rock Hotel Maldives, and the latest addition, SO/ Maldives—the destination offers a diverse array of experiences tailored to discerning travellers.

Luxury Lifestyle Emerges in Maldives with SO/ Maldives Grand Opening

The integration of these resorts with world-class facilities at The Marina @ CROSSROADS ensures an unmatched leisure experience, setting a new benchmark for excellence in hospitality.

SO/ Maldives is the result of an international joint venture between S Hotels and Resorts PCL and Wai Eco World Developer (WEWD), with operational expertise provided by Ennismore, renowned leaders in hotel management and brand development.

Located in Emboodhoo Lagoon in the Kaafu Atoll, SO/ Maldives epitomises luxury and exclusivity, promising guests a truly unforgettable retreat just a short speedboat ride from Malé’s Velana International Airport.

A Haven for Discerning Travellers

Designed as an epitome of “island couture,” SO/ Maldives boasts Beach Villa and Water Villa Collections curated by award-winning designers, complemented by innovative dining venues and vibrant social spaces.

Luxury Lifestyle Emerges in Maldives with SO/ Maldives Grand Opening

The resort’s Lazuli Beach Club, set to host the Maldives’ most exclusive parties and international DJs, adds an extra dimension of excitement to the guest experience, making SO/ Maldives one of the most eagerly anticipated hotel openings of the year.

The successful launch of SO/ Maldives underscores its pivotal role in driving S Hotels & Resorts’ operational and financial performance. With an impressive occupancy rate of nearly 60% within just four months of its soft opening, and projected average daily rates (ADR) ranging from USD 750-850 for 2024, SO/ Maldives is poised to elevate the group’s revenue significantly.

The strategic roadmap outlined by the company is expected to result in a substantial surge in revenue per available room (RevPAR), with a projected increase of 25% year-on-year in 2024.

Elevating Culinary Experiences

Food and beverage sales are a cornerstone of S Hotels & Resorts’ revenue stream, with The Marina @ CROSSROADS Maldives offering a diverse selection of fourteen restaurants and bars.

From casual dining options to globally renowned brands like Ministry of Crab and Hard Rock Café, the culinary offerings at CROSSROADS Maldives cater to every palate, driving a significant increase in F&B revenue.

The addition of SO/ Maldives’ exclusive dining venues is expected to further enhance the resort’s revenue streams, aligning with the group’s overarching goal of boosting non-room revenue.

A Strategic Growth Market

The Maldives holds immense strategic importance for S Hotels & Resorts, representing its second-largest market after the UK. With the official launch of SO/ Maldives, the contribution of the Maldives to the group’s revenue is projected to increase from 27% in 2023 to 35% in 2024, supported by robust forward bookings and growing demand for luxury hospitality experiences.

Luxury Lifestyle Emerges in Maldives with SO/ Maldives Grand Opening

Mr. Michael Marshall, CEO of S Hotels & Resorts, expressed his optimism about the impact of SO/ Maldives on the company’s growth trajectory, highlighting its synergies with existing properties and its potential to attract a diverse range of travellers.

He emphasised the resort’s high-fashion, luxury lifestyle concept and its role in enhancing the appeal of CROSSROADS Maldives as a multi-island integrated resort destination.

Beyond its economic impact, CROSSROADS Maldives exemplifies a commitment to sustainability and environmental stewardship. Boonrawd Brewery Co., Ltd. and Singha Estate PCL, the ultimate owners of CROSSROADS Maldives, have played a pivotal role in its development, operation, and conservation efforts.

Luxury Lifestyle Emerges in Maldives with SO/ Maldives Grand Opening

Through initiatives such as the Marine Discovery Centre and the protection of critical marine habitats, CROSSROADS Maldives demonstrates a steadfast commitment to preserving the natural beauty of the Maldives archipelago.

Conclusion

The grand opening of SO/ Maldives marks a significant milestone in the evolution of Maldivian tourism and the success story of CROSSROADS Maldives. With its blend of luxury, innovation, and sustainability, SO/ Maldives is poised to captivate discerning travellers and elevate the Maldives’ status as a premier leisure destination.

As S Hotels & Resorts continues to expand its footprint in the region, the future looks brighter than ever for luxury hospitality in the Maldives.

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