Assets Group reveals over QR250 million investment in 18 luxury yachts for Maldives hospitality portfolio

Doha, Qatar - Assets Group, a subsidiary of Power International Holding, has announced a substantial investment of over QR250 million in 18 luxury yachts from Italian manufacturer Azimut Yachts. This acquisition underscores the company's commitment to expanding its marine infrastructure to support its hospitality portfolio in the Maldives.

The acquisition, previously unannounced, will bolster the facilities of two luxury resorts: Waldorf Astoria Maldives Ithaafushi and Rosewood Ranfaru Maldives. The fleet's purpose is to enhance the resorts' hospitality offerings, integrating marine experiences into the broader suite of guest services.

For Assets Group, this investment represents a departure from conventional resort and hotel development. By incorporating dedicated marine assets, the Group is aiming to enrich the guest journey, contributing to the overall destination experience beyond what traditional accommodations provide.

Commenting on the investment, Khaled Zi Alnon, Group Chief Executive Officer of Assets Group, remarked, "Investing in world-class hospitality demands more than just the physical resort. This acquisition demonstrates our dedication to creating integrated destinations, where each investment enhances the quality, accessibility, and long-term value of our hospitality assets."

The 18-yacht acquisition is part of an ongoing partnership with Azimut Yachts, bolstered by the Group's local service capabilities in the Maldives. This investment underscores Assets Group's ongoing focus on developing and maintaining luxury hospitality assets through a blend of destination infrastructure, premium services, and long-term asset ownership.