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AfricaMoney | August 18, 2017

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Sun Resorts concludes full acquisition of Anahita Hotel upon buying Kingdom 5-KR-182

Sun Resorts concludes full acquisition of Anahita Hotel upon buying Kingdom 5-KR-182

Mauritian hospitality major Sun Resorts now fully owns Anahita Hotel Limited upon acquisition of Kingdom 5-KR-182 Ltd, which reinforces the development strategy of the hotel to enter into agreements with renowned hotel groups while continuing to develop its own portfolio of hotels. (Image: Long Beach, Sun Resorts)

Sun Resorts Ltd (SRL) announced the successful acquisitions of Kingdom 5-KR-182 Ltd, owners of 50% stake in Anahita Hotel Limited (AHL) for an amount of USD 40 million, in a communiquéreleased on the Stock Exchange of Mauritius (SEM) on 1 June 2015.

The Mauritian hospitality major has additionallytaken over the beneficial ownership of 50% shareholding in Anahita Hotel Limited which owns Four Seasons Resort Mauritius. Thus, taken together with its previous acquisitionon 2 December 2014 of the 50% share capital held by Alteo Group in AHL, SRL now, directly and indirectly, holds 100% of AHL.

The communiquéstates, “The Company is pleased to acquire control of such a asset, which has been achieving exceptional results despite the difficult conditions prevailing in the industry during the past years.”

This strategic move allows SRL to strengthen its strategic partnership with Four Seasons, which is an international five-star luxury hotel management company based in Canada, with 92 hotels amongst the top luxury hotels in 38 countries.

Besides, this acquisition reinforces the development strategy of SRL, which, since 2014, consists of realising agreements with renowned hotel groups while continuing to develop its own portfolio of hotels.

The board of directors of SRL highlighted:“This transaction is in the best interests of SRL as it is in line with its strategy of developing its hotel portfolio through partnerships with luxury international operators while continuing to develop its own brand and operations.”

It is to be noted that SRL is one of the main hotel groups of the Indian Ocean, which owns and manages six hotels in the Mauritius and in the Maldives Islands for which it employs around 3,500 people.Sun Resorts been quoted on the Stock Exchange of Mauritius since January, 1993.

SRL has offices in Paris, London and Frankfurt, and representative offices in Madrid, Milan, Moscow, Shanghai, Beijing and Mumbai. The local hospitality major recently concluded a partnership with international groups Four Seasons and Shangri-La.

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