Mauritius is internationally distinguished as one of the universe ‘s prime luxury vacation finishs. It is considered to be among the highest rates of returning visitants in the universe because of its universe ‘s celebrated hotels. The state is renowned for its natural beauty such as its laguna, the sub-tropical clime, attractive beaches, tropical zoology and vegetation. It besides possesses a multiethnic and cultural population that is friendly and welcoming. These assets are the strength of Mauritius as they attract international tourers. Therefore, this sector is considered to be the cardinal component in the overall development of the island.
The purpose of the Ministry of Tourism, Leisure & A ; External Communications is to advance Mauritius as a tourer finish globally and to implement sustainable touristry schemes and policies. Mauritanian Tourism started back in the 1970s and has grown over old ages. It is among the chief sectors of the economic system. It has made immense part to foreign exchange net incomes, GDP growing and employment creative activity.
Mauritius has performed good in developing a typical signifier of comparatively high-end touristry. Growth in tourer reachings has outpaced that of many of our rivals. The Government ‘s Vision is to accomplish a mark of 2 million tourers in the island by 2015. To accomplish the set mark, the figure of hotels and room capacity has evolved well over the old ages to provide for the ever-increasing tourer reachings. Mauritius has been awarded a series of awards, such as: “ World ‘s Leading Island Destination ” for 2009 and Best Outbound Travel & A ; Leisure Destination by the India Travel Mart
Tourist grosss ( Rs m )
Tourism part to GDP
Sun Resort Limited
Sun Resorts Limited ( SRL ) is known to be the chief pillar of Mauritanian hotel industry. It is a public limited company incorporated on the 10th February 1983 and it has been listed on the stock exchange of Mauritius since January 1993. The company is 100 % Mauritian-owned and presently has about 6000 stockholders.
Initially, the company acquired the shareholding of One & A ; Merely Le saint Geran Hotel, One & A ; Merely Le Touessrok Hotel and La Pirogue Hotel. It incorporated two wholly-owned subordinates in 1996: Wolmar Sun Hotel Limited which set up Sugar beach Resort and Sun Leisure Hotel Limited which become Coco Beach Hotel.
The hotel group has faced some disputing times over the recent old ages. On the 5th April 2007, SRL end its 30 old ages partnership with the Kerzner International Limited but unluckily it had to portion with One & A ; Merely Le Saint Geran. The ground for this divider was that the vision of both parties has evolved over times as the focal point of KZL was to develop its One & A ; Merely trade name outside Mauritius whereas the SRL scheme was to drive growing in the three to five star hotel market sections.
It was the beginning of the new epoch as SRL redefined the group ‘s vision and mission statement. It besides restructured and rebranded its hotel concatenation and circuit operators. Now it operates four resorts in Mauritius: Le Touessrok Hotel, Sugar Beach Resort, Le Pirogue Hotel and Coco beach Hotel and one resort in Maldives: Kanuhura.
In 2009, Le Coco Beach Hotel was replaced by a new hotel known as the Long Beach Hotel which opened up in April 2011. SRL used the Invest Hotel Scheme1 to raise capital for the building on the hotel.
1 Buy a hotel room for a portion of room rental net incomes and free nightsIn 2010, there was another alteration in the shareholding construction of the hotel group whereby Ciel Investment became the major stockholder following the distribution by IBL of its 29 % interest held in Sun Resorts.
In 2011, SRL signed a memoranda of understanding with Armand Apavou Co Ltd to rent one of its hotel, Ambre Resort & A ; Spa.
Naiade Resort Limited
From the flaxen beaches of Mauritius, to the impressive vale of Reunion Island and the crystal clear laguna of Maldives. Naiade resorts were founded in 1987. Behind its poetic name “ Naiade ” is a major participant in the Mauritanian hotel industry, a dynamic hotel group with more than 15 old ages of experience that is spread outing. Ranging from 3* hotels to 5* deluxe resorts and besides a private island, Naiade Resorts has a good name through different hotels in Mauritius. Naiade caput office in Mauritius is located at Floreal.
Naiade Resorts is a dynamic, professional and originative Group who ever make certain that your stay with is even more gratifying than you expected. Whatever you have in head, nevertheless complicated or even brainsick, they will come up with inventive solutions. Naiade Resort staffs are imaginative and will make everything possible to do certain your group enjoys the thaumaturgy of the Indian Ocean islands – warm smile welcomes and local coloring material.
Naiade Resorts occupies 10 operations in the Indian Ocean, viz.
Beau Rivage Hotel
Les Pavillons Hotel
Le Tamassa Hotel
Merville Beach Hotel
Le Tropical Hotel
Ile Des Deux Cocos
Les Villas Du Lagon
Les Villas Du Recif
Naiade resort has finally invested 1.1 Millard rupees in Les Pavilion Hotel for redevelopments, turning to a 5* star hotel. Furthermore, Naiade Resorts is be aftering to open a new resort in Seychelles Island. Naiade Resorts occupies 550 suites in the hotels of Mauritius.
NaA?ade Resorts Ltd ( NRL ) is a comparatively immature participant in the industry. Competing for a greater market portion, the group embarked on an aggressive portfolio enlargement to even include hotels in the Maldives and Reunion. Its debt funded growing coupled with a contraction of the local touristry industry resulted in record losingss for group. Since, the group has raised financess from the market, changed its upper direction, and shifted its scheme towards the upper echelon.
NaA?ade Resorts Ltd ( NRL ) is a newcomer playing catch-up with the industry ‘s two innovators: NMHL and SRL. NRL began operations in 1987 with 3-Star Le Tropical, and today runs five resort hotels in the 3 to 5 star section in Mauritius, two hotels in ile de la Reunion, and one luxury island resort in the Maldives
Naiade Resorts which was founded in 1987 is the 2nd largest hotel group by room capacity. The group owns 5 hotels in Mauritius and 3 hotels overseas, runing in the 3 to 5 star classs. The hotel group was listed on the market on the 23rd of November 2005. In 2007, the group embarked on an enlargement scheme that resulted in the doubling of its room offering over the following 3 old ages. However, much of these investings were financed out of debt and Naiade Resorts was n’t prepared for a downswing in the market. When the fiscal crisis broke in 2008, Naiade Resorts faced the bead in tenancies and gross. The group which could n’t run into its debt duties was forced to continue in 2010 with a capital restructuring worth Rs1bn made up of a rights issue and exchangeable bonds. The group besides appointed a new Chief Executive Officer, Paul Jones, who has antecedently worked in Mauritius for another hotel group.
Top Stockholders as at February 2011:
Compagnie d’investissement et de 39.30 %
Compagnie d’investissement 6.60 %
Immoblier de Flacq Ltee
Anglo Mauritius Assurance Society 6.47 %
The group achieved a major turnaround in its operations last twelvemonth since the reaching of Paul Jones. His solid experience in the industry and established contacts with circuit operators have been cardinal determiners to Naiade ‘s recovery. The group has besides repositioned itself as an low-cost luxury resort and assorted enterprises have been taken to cut costs, while keeping the service level.Whilst the turnaround has given the group more credibleness, it remains however still extremely geared. The net debt to equity remains a cause of concern peculiarly as macroeconomic factors such as lifting involvement rates, rising prices, low EUR/Rs and low degree of growing in chief markets continues to impact on public presentation.