Qatar
Assets Group reveals over QAR 250 mn investment in 18 luxury yachts for Maldives hospitality portfolio
Assets Group, a subsidiary of Power International Holding, has disclosed that its acquisition of 18 luxury yachts from Italian manufacturer Azimut Yachts represents an investment exceeding QAR 250 million, marking a significant commitment to the marine infrastructure supporting its hospitality portfolio in the Maldives.
The acquisition, previously announced without a disclosed transaction value, will support two luxury hospitality destinations: Waldorf Astoria Maldives Ithaafushi and Rosewood Ranfaru Maldives. The fleet is intended to complement the resorts' hospitality offerings, supporting the integration of marine experiences into their wider guest services.
For Assets Group, the investment reflects an approach to destination development that extends beyond traditional hotel and resort facilities. By incorporating dedicated marine assets into its hospitality portfolio, the Group is investing in additional elements of the guest journey that contribute to the overall destination experience.Commenting on the investment, Mr. Khaled Zi Alnon, Group Chief Executive Officer of Assets Group, said:
"Investing in world-class hospitality requires looking beyond the physical resort to the infrastructure and services that shape the overall guest experience. This acquisition reflects our commitment to developing integrated destinations, where every investment contributes to the quality, accessibility and long-term value of our hospitality assets.”
The 18-yacht acquisition forms part of an existing commercial relationship with Azimut Yachts, supported by dedicated local service capabilities in Maldives.The investment highlights Assets Group's continued focus on developing and supporting luxury hospitality assets through a combination of destination infrastructure, premium services and long-term asset ownership.