New developments in Mauritius hint at upturn

Mauritius seems poised for a development boom in the next two years. The small island off the coast of Africa in the Indian Ocean has already attracted the attention of international brands like Four Seasons, Hilton, Intercontinental, Maritim, Le Meridien, Oberoi and Sofitel, and while development has slowed in recent years, several new projects are in the works.

Most notably, Hotel Missoni, the luxury brand of the Rezidor Hotel Group, has announced the Hotel Missoni Mauritius for a 2014 opening. Hotel Chatter is reporting that the hotel will be built in the village of Baie du Cap and will have 80 luxury suites, unobstructed ocean views. The opening will mark the 66th country with a Rezidor hotel.

Before that opening, Mauritius will get the boutique Centara Grand Azuri Resort & Spa Hotel in October 2012. Breaking Travel News is reporting that joint venture partners IOREC and FUEL have announced the Centara Hotels & Resorts will manage the luxury five star resort and spa at Mauritius’ latest development, Azuri. The property will have 75 standard bedrooms as well as ten suites with personal plunge pools.

This growth is particularly interesting in light of last week's announcement (via Reuters) that luxury hotel group New Mauritius Hotels reported that their pretax profit for the year through September dropped 0.9 percent. The report blames "heavy discounting among operators," though it notes that the group expects better results in its fiscal first quarter next year. NMH also reportedly said that the island needed to take "urgent measures to restore its reputation as a high-end destination," which the upcoming openings seem poised to do.

NMH is ranked among Mauritius' most-traded stocks, and reported that its yearly pretax profit fell to 803.1 million rupees ($27.4 million) from 810.5 million the previous year. 

 

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