Assets Group is investing QAR 250 million (US$68 million) in 18 luxury yachts from Italian manufacturer Azimut Yachts to support its hospitality portfolio in the Maldives.
The Qatar-based company, a subsidiary of Power International Holding, will use the fleet to support Waldorf Astoria Maldives Ithaafushi and Rosewood Ranfaru Maldives, complementing the resorts’ hospitality offerings and wider guest services.
Assets Group says the acquisition reflects a destination-development approach that includes the services and experiences surrounding a stay, rather than focusing solely on hotel and resort facilities.
“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,” said Khaled Zi Alnon, group chief executive of Assets Group.
The acquisition forms part of an existing commercial relationship with Azimut Yachts and is supported by dedicated local service capabilities in the Maldives.
