New Mauritius Hotels: Occupancy rate for Beachcomber dips to 61% in 2013
Besides, revenue for the year ended 30Sep2013 dipped by 3.6% to Rs 7.8 billion against Rs 8.1 billion in 2012.(Image: New Mauritius Hotels)
The annual report of New Mauritius Hotels (NMH) for the year ended 30Sep13 indicated that the occupancy rate for NMH establishments, run under the Beachcomber brand, decreased to 61% in 2013 from 64% in 2012.
For NMH, the year 2013 has been a year of evolution and its annual report comments extensively on the group’s new project in Morocco.
Despite a 4.5% drop in arrivals from European countries, the group’s pricing policy coupled with high service quality, enabled the average revenue per guest to be maintained but with lower occupancy levels.
Revenue for the year 2013 amounted to Rs 7.8 billion while in 2012 it amounted to Rs 8.1 billion, thus representing a 3.6% dip. The group’s profit for the year also decreased by 33.9% to Rs 403.7 million in 2013 against Rs 610.9 million in 2012.
“Capital expenditure of Rs 1.8 billion for the year was incurred mainly on the Marrakech project and was financed by banks and by multicurrency notes issued in private placement. Total assets at year end moved from Rs29.7 billion to Rs33.0 billion whilst net borrowings increased from Rs12.3 billion to Rs14.2 billion,” said group chairman Hector Espitalier-Noël in the annual report.
During the third quarter, the hotel in Marrakech, the Domaine Royal Palm, should operate at full capacity with some 15 villas and all civil works associated with the remaining 78 villas of phase one to be completed during the second quarter.
Hector Espitalier-Noël is confident about the Marrakech project which he states will prove to be a success with a gradual increase in the number of rooms in service until the hotel operates at full capacity during the year.
As the Domaine Royal Palm is considered prime residential estate development in Marrakech, its launch has seen an increased interest in the villas available for sale and, looking forward, the Marrakech project should contribute significantly to the Group’s earnings growth and debt repayment as from the financial year ended 30Sep14.
The Marrakech hotel, which has been widely acclaimed by the trade, is unique in the country, as it benefits from a breathtaking view of the Atlas Mountains and has a golf course which meets international standards.
Besides, a budget of Rs 400 million has been allocated for the renovation of the Royal Palm Hotel of Mauritius during the off-peak tourist season in 2014.