The New Mauritius Hotels group (known for its luxury hotel brand Beachcomber), is finally seeing green in Morocco. Indeed, more than five years after having effectively launched its activities, this group listed on the Mauritius stock exchange is finally enjoying its first profitable half-year.
After several years of losses, in particular due to a low occupancy rate of its Royal Palm Marrakech, and a delay in the marketing of its real estate project located on the same site, Morocco has just contributed positively to the positive half-year EBITDA of the hotel group by generating a profit balance of nearly 6 million dirhams (for the half-year from October 1, 2018 to the end of March 2019).
The group achieved a turnover of nearly 140 million dirhams (largely provided by the hotel business), a performance which reassures the leaders of the Mauritian group regarding their strategy of withdrawing from direct management of their flagship hotel in Morocco in 2017. Also, with a constantly increasing occupancy rate, since it bears the Fairmont Hotels brand of the French hotel giant Accor, the Royal Palm Marrakech, which enjoys an exceptional location facing the Atlas with its 124 suites and 11 villas, is once again becoming a profitable and promising asset. The occupancy rate even reached 87% in April 2019 (compared to 68% for the previous quarter and barely 50% for the whole of 2017/2018).
source: challenge.ma
