Cash Flows From Financing Activities Include Which Of The Following Hotel Rooms For Sale in Mauritius

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Hotel Rooms For Sale in Mauritius

The Long Beach, owned by hotel group Sun Resorts Ltd, which will reopen at the end of the year, will be the first hotel to sell hotel rooms under the Hotel Invest (IHS) scheme.

Globally, 90 of the 255 rooms of the Long Beach Hotel, which was built on the site of the Coco Beach Belle Mare Hotel, will be sold to Mauritians and foreigners. The hotel required an investment of Rs 2.5 billion.

Last December, BOI considered seven hotel construction projects under IHS. Two of them have been approved namely Sun Resorts Ltd and Ramloll Bhooshan Property Ltd. Speaking on the occasion, Mr. Nicolas de Chalain, General Manager of Sun Resorts, stated that there were many applications. This was also in the context of the democratization of the economy. They offer Mauritians the opportunity to own a property on the beach. The price of the room depends on the promoter and on most of the construction costs.

The customer can stay for free in his hotel room for a maximum of 45 days a year. The room will be rented out to other guests for the rest of the year.

The buyer will have the opportunity to sell the house, but under certain conditions. Nicolas de Chalain also highlighted the fact that IHS would definitely help with cash flow. It is also an investment for the client, especially Mauritius. There would be lifestyle and service. The investment would pay off.

The IHS program, announced in the 2009 Budget speech, provides an alternative funding mechanism for hotel developers. This scheme allows them to sell hotel rooms, villas, apartments or any other complex within the hotel to individual buyers to accelerate the construction of new hotels. On the other hand, Mr. Bhooshan Ramloll, Director of Bhooshan explained that the sale of hotel rooms has great potential. They planned to diversify their activity by building a hotel within the framework of HIS. The Ramloll Bhooshan Property Ltd hotel, which includes about 200 rooms, will be built in Grand Gaube. The investment in this project would be worth about 2 billion rubles. In addition to being a funding tool, the IHS aims to expand the range of opportunities in the tourism industry.

It is therefore considered an essential element of BOI’s investment strategy, enabling a wider range of Mauritians to participate as investors, implementers and developers in the tourism sector.

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