Naiade Resorts owns and manages eight other hotels in Mauritius, the Seychelles, and the Maldives.

"The company has today acquired the hotel activities of Bourbon in Reunion Island," the statement said, without giving financial details.

The deal increases the stock of rooms that Naiade Resorts owns and manages, including projects under way, to 1,538, up 69 percent since December 2006, the statement said.

Naiade, Mauritius' third-largest hotel group by revenue and by profit, is focusing on developing new projects in the Indian Ocean.

The group's pretax profit rose 50 percent in 2006 to 586 million rupees, despite a mosquito-borne disease that affected operations between March and July.

In Mauritius, Naiade's projects include construction of the 28 million euro Tamassa hotel due to open in December. It is also building 12 luxury villas due for completion in November at a cost of 7 million euros and upgrading two other hotels.

In the Maldives, it is investing 45 million euros to turn a four-star resort into a five-star deluxe hotel by the end of 2008.

Courtesy: Reuters 

Published in : The News, Travel & Business

Users' Comments (0)

Add your comment