Why don't you stay at the Conrad first then the St. Regis after the Conrad. It's your first time to the Maldives so you will be blown away by both resorts. Doing it that way you will get to experience Rangali, a large but private resort that has oodles of natural beauty (both in and out of the water) that can't be beat, a phenominal F&B operation (the largest in the Maldives and there's Ithaa), has been open for more than 20 years and so the service will be excellent (many staff have been there from the beginning) and it doesn't still need ironing out like the St. Regis does. Remember, at the Conrad you won't get any of that St. Regis BS, like "Sorry, the restaurants are all full tonight!" when they in fact are only at 20% capacity and other service anomalies and oddities. Then you'll get to experience the accommodation at the St. Regis. The F&B there is excellent too but hasn't the variety of locations and menu items that the Conrad has.