STO Hotels & Resorts Pvt Ltd
Established: 2012
STO Hotels and Resorts was incorporated as a Special Purpose Entity (SPE) in 2011 as STO ventured into the tourism sector. Difficulties in obtaining foreign currency and overreliance on petroleum trade were two fundamental threats identified to STO’s growth and sustainability. Diversifying into the tourism sector was the company’s first strategic move to mitigate these threats. The first initiative of the new company was the acquisition and development of Fuvahmulah Airport.
