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Port Louis - Luxury hotels group New Mauritius Hotels (NMH) reported a 29% fall in full-year pretax profit on Tuesday, hit by a drop in arrivals from Europe.
The group, which owns nine hotels in Mauritius, one in the Seychelles and another in Morocco, cited a 4.5% drop in tourists from Europe for profit sliding to 428.07 million Mauritius rupees in the year to September 30, against 602.93 million rupees the previous year.
"During the year under review, tourist arrivals grew by 1.9% at national level. A drop of 4.5% was, however, recorded in arrivals from European countries, with France and Italy, two of our main markets, registering reductions of 10% and 23% respectively," the company said in a statement.
NMH blamed unfavourable conditions in terms of connectivity and pricing for air travel.
The results were released after trading on Mauritius' stock had closed. Shares in NMH were unchanged at 90 rupees.
The group, which owns nine hotels in Mauritius, one in the Seychelles and another in Morocco, cited a 4.5% drop in tourists from Europe for profit sliding to 428.07 million Mauritius rupees in the year to September 30, against 602.93 million rupees the previous year.
"During the year under review, tourist arrivals grew by 1.9% at national level. A drop of 4.5% was, however, recorded in arrivals from European countries, with France and Italy, two of our main markets, registering reductions of 10% and 23% respectively," the company said in a statement.
NMH blamed unfavourable conditions in terms of connectivity and pricing for air travel.
The results were released after trading on Mauritius' stock had closed. Shares in NMH were unchanged at 90 rupees.
