Oct. 4 (Bloomberg) -- New Mauritius Hotels Ltd.’s bookings for its first quarter are lagging behind the expansion in capacity because of a global slowdown, said Marcel Masson, finance director at the nation’s biggest leisure operator.
Reservations for the three months through December are “not enough with regard to the additional capacity that the group has this year,” Masson said in a transcript of an interview published in BeachNews, the Curepipe-based group’s newsletter, received today by post.
New Mauritius Hotels, which trades under the Beachcomber brand, owns and manages eight hotels in Mauritius and one in Seychelles, according to its website. Its new Trou aux Biches resort was operating at full capacity this year, it said.
Tourism and textiles are the country’s largest earner of foreign currency. Europe is the main source of visitors for Indian Ocean island nation, accounting for 62 percent of arrivals for the eight months through August, data from the Mauritius Tourism Promotion Authority show. Low season normally runs from April to September.
Results for the fourth quarter through September will be “negative” as the period coincides with the low season, Masson said. Full-year earnings will “slightly” improve compared with the prior period.
The group’s third-quarter loss widened to 133 million rupees ($4 million), it said on Aug. 5.
The company, third largest in the SEMDEX index of stocks, is the worst performer among the gauge’s 38 members this year. It climbed 0.6 percent to 80.5 rupees by the 1:30 p.m. close in Port Louis, the capital, paring its drop in 2011 to 27 percent.
--Editors: Ana Monteiro, Hilton Shone
-0- Oct/04/2011 13:01 GMT
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