Villa Group Maldives

Villa Shipping and Trading Company Pvt. Ltd.(VSTC) is one of the largest private companies in the Maldives. Mr. Qasim Ibrahim founded the company in 1986 to manage the trading and shipping interests. In 1988, VSTC poured its profits from its trading operations into the resort industry. The company operates five resorts with 2008 beds and carries out trading operations supported by a shipping fleet of 8 cargo ships and tankers. Today VILLA is the single largest owner and operator of resorts in the Maldives, with 5 island resorts, 1,002 rooms (including 6 presidential suits) and 2,008 beds. To aid its resort operations, VILLA has established marketing and sales offices in Frankfurt, Tokyo, Zurich, London, and Hong Kong. The average combined bed capacity utilization of Villa Hotels' Resorts in the last five years has been at 81.1%, which is much higher than Maldives ' industry average of 72%. VSTC, with US$ 108.4 million in total assets and a net worth of US$ 60.9 million as of June 30, 2001, is one of the largest private companies in the Maldives, and has a stellar track record of successes in business.