In a remarkable start to the year, Maldives’ luxury resorts have reported unprecedented service charge earnings for January, with Velaa Private Island leading the pack.
Velaa Private Island Resort, renowned as one of the Maldives’ premier destinations, made headlines by distributing an impressive USD 1.4 million (MVR 22 million) in service charges among its staff. Each of its 300 employees received an enviable USD 4,693 (MVR 72,366), setting a new standard in the industry.
Securing the second position, Fari Islands’ Ritz-Carlton Maldives rewarded its 750 staff members with USD 4,283 (MVR 66,000) each, totaling an impressive USD 3.2 million (MVR 50 million). Cheval Blanc Randheli Resort secured the third spot, providing its employees with USD 3,525 (MVR 54,000).
The top ten resorts contributing to this extraordinary service charge trend include Waldorf Astoria Ithaafushi, Joali Maldives, Four Seasons, Sonevafushi, St Regis Maldives, Soneva Jani, and Joali Being. Each resort demonstrated a commitment to their workforce, with service charges ranging from USD 2,758 to USD 1,552.
Historically, January has proven to be the pinnacle month for service charge earnings in the Maldives. Numerous resorts issued service charges surpassing USD 1000, reinforcing the economic vitality of the tourism industry in the region.
Under recent legislation, all tourist facilities in the Maldives are required to implement a ten percent service charge. Failure to distribute this charge to employees may result in fines, with the Labour Relations Authority empowered to impose penalties up to MVR 500,000.
As the Maldives continues to attract travelers seeking luxury and exclusivity, the robust service charge earnings reflect the resilience and prosperity of the tourism sector in the face of global challenges.