New Mauritius Hotels bought Domaine Palm Marrakech
13 years ago - April 20, 2011
The country's largest leisure operator by market value, said it bought the 50 percent that it doesn't already own
New Mauritius Hotels Ltd., the country's largest leisure operator by market value, said it bought the 50 percent that it doesn't already own in Domaine Palm Marrakech, which is developing a project in Morocco.
It plans to restart the hotel, villas and golf course project that stalled for two years, the Port Louis-based company said in a statement on the Stock Exchange of Mauritius's website today. The hotel, golf course and phase 1 of the villas are expected to be completed in 2013.
The company reached agreement for the purchase with Fernton International Ltd. and Conseil Strategie et Developpement, it said. The Marrakech project included a 150-room hotel and 80 villas, according to the company's 2008 annual report on its website.
