“The hospitality sector has undoubtedly gone through one of its most challenging years in its history,” New Mauritius Hotels Ltd Group points out in its comments on the results for the year ended June 30, 2021.
The Group’s revenue fell to Rs 1.1 billion, compared to Rs 5.6 billion in the last nine months of fiscal year 2020. The Group’s loss after tax for the year 2021 is Rs 3.1 billion, compared to the loss of Rs 686 million for the nine-month period last year.
NMH Ltd explained that most countries closed their borders for several months or more and only reopened with travel restrictions and health protocols. As a result, the disruption caused to the global travel and tourism industry was unprecedented, and did not spare all of the Group’s hotel and non-hotel operations.
NMH operations in Mauritius paralyzed in 2021 due to border closures:
Operations in Mauritius were thus paralyzed during the year under review. In the first quarter of the year, approximately 400 beds were made available to local communities in response to the health crisis. Subsequently, when Beachcomber Resorts was established as a “safe haven,” only three of the eight resorts, namely Canonnier Beachcomber, Paradis Beachcomber and Royal Palm Beachcomber, were partially open to local residents. Unfortunately, in March 2021, with the announcement of a second national lockdown, all hotels had to be closed and remained closed until the end of the fiscal year. Against this backdrop, revenues from operations in Mauritius remained very low at Rs 671 million for fiscal year 2021, compared to Rs 4.7 billion over nine months of fiscal year 2020. Earnings before interest and taxes (EBITDA) were negative at Rs 1.8 billion, compared with a positive EBITDA of Rs 228 million for the nine-month period last year. “While many measures were taken to contain costs, including seeking salary support from the authorities, losses were inevitable for the year,” NMH Ltd. points out.
For its first quarter between July and September 2021, the NMH group notes an improved turnover of Rs485 million, and losses after tax of Rs775 million. Hotel operations are gradually picking up in the Seychelles and Morocco, and in Mauritius, however, the strict conditions of stay have not attracted many foreign guests. NMH Ltd’s hotels gradually resumed operations as of July 15, with the exception of Shandrani Beachcomber, Dinarobin Beachcomber, Mauricia Beachcomber and Royal Palm Beachcomber, which were undergoing renovation.
NMH Group projects:
In terms of the projects of the NMH Group Ltd, the hotel project Les Salines Beachcomber in Black River is temporarily suspended. The renovated Shandrani Beachcomber reopened on October 15, 2021. The Group has received approval from the Economic Development Board for its hotel investment project in Trou aux Biches, and 27 villas will be marketed under a sale and leaseback agreement in early January 2022.
