The Invest-Hotel Scheme (IHS), a new hotel concept, is now available to the Mauritian public.
With regard to its economic importance, the Board of Investment (BOI) has said that the IHS is an investment strategy for wider participation of the Mauritian diaspora to ensure their direct involvement as investors, entrepreneurs and promoters of tourism. The BOI has approved four projects. These are the Long Beach of Sun Resorts (250 rooms out of which 90 rooms will be sold under IHS), Brabant at Balaclava (25 suites), Dale Property at Perebere and Bhooshan Ramloll Properties in Melville (200 rooms under the IHS).
Also, BOI has said that a dozen of similar projects are under consideration. The IHS provides development of a new hotel on either freehold or leasehold land of more than 1 hectare where rooms, villas, apartments or other parts of the hotel can be sold. The structure of the IHS is a hybrid of real estate development and hotel product and poses several questions for hotel developers, but also offers new opportunities. To explain how this system works, the BOI has already organised seminars.
IHS has already won the favour of hotel developers following the success of the Integrated Resort Scheme and the Real Estate Scheme and also due to the fact that it is part of a project that can get funds more easily than a traditional hotel.