Bloomberg News

New Mauritius Slides to Two-Month Low on Slower Tourism Bets

February 17, 2012

Feb. 17 (Bloomberg) -- New Mauritius Hotels Ltd., the country’s biggest leisure operator by market value, declined to its lowest level in more than two months on bets of a weaker tourism season.

The stock retreated for a second day to its lowest intraday level since Dec. 5, down 2 percent to 74.50 rupees by 12:27 p.m. in Port Louis, the capital.

“Tourism arrivals in January dropped 3 percent, a second month of decline, which is a cause of concern for the industry right now,” Kishen Nadassen, senior research analyst at CIM Stockbrokers Ltd., said in a phone interview from Port Louis. “Expectations are negative” for the season starting April and continuing until September, Nadassen said.

--Editors: Ash Kumar, Linda Shen

-0- Feb/17/2012 09:04 GMT

-0- Feb/17/2012 09:32 GMT

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis at kbhuckory@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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