Impact Analysis

2. Maldives

Occupancy
100
90
80
70
60
50
40
30
20
10
0
1 2 3 4 5 6 7 8 9 10 11 12

2019 2020

Occupancy

The situation of Maldives is also similar when it comes to occupancy. As it can be seen
that in 2019 the occupancy remained in the range of 70% to 80%. However, in 2020 the
occupancy dropped to its lowest to below 10% but increase to almost 60% at the end of 2020,
thus showing signs of recovery.
 ADR
30000

25000

20000

15000

10000

5000

0
1 2 3 4 5 6 7 8 9 10 11 12

2019 2020

Average Daily Rate

The average daily rate for the first four months was almost similar. However, it increases
significantly for 2020 as compared to 2019. This means that the hotels in Maldives increased the
money they made in 2020. Again, this could be due to lock down, as people were forced to stay
where they were.

RevPar
450000
400000
350000
300000
250000
200000
150000
100000
50000
0
1 2 3 4 5 6 7 8 9 10 11 12 13

Revenue per Available Room

During the first couple of months of both 2019 and 2020, the revenue per available room
was similar. However, as it can be seen, from March 2020 the figure declined significantly
because of the impact of pandemic. However, towards the end of the year it can be seen going
back to the mean-reverting level.
Supply

Supply
450000
400000
350000
300000
250000
200000
150000
100000
50000
0
1 2 3 4 5 6 7 8 9 10 11 12

2019 2020

The figure for supply can be seen to be above the 2019 levels for the first couple of
months of 2020. However, as with other trends it can be seen to drop because of the pandemic.
However, towards the end of 2020, the supply seems to be catching to on and coming back to its
mean-reverting level.

Demand
6000000000
5000000000
4000000000
3000000000
2000000000
1000000000
0
1 2 3 4 5 6 7 8 9 10 11 12

2019 2020

Demand
 The demand saw the biggest decline because of the pandemic. As it can be seen that at
the start of the 2020 it was in the range of 400,000, but after march it dropped to less than
50,000. However, demand can also be seen to be increasing.

Revenue
6000000000
5000000000
4000000000
3000000000
2000000000
1000000000
0
1 2 3 4 5 6 7 8 9 10 11 12

2019 2020

Revenue

The currency of Maldives is Maldives Rufiyaas. In 2020, the revenue of tourism and
hospitality industry was approximately MVR 5 billion, however, it dropped significantly to
below MVR 1 billion. However, as with other variables it can be seen that the revenue is
recovering and increasing.