NMH’s 3-Year Turnaround Sparks Early MIC Debt Repayment

New Mauritius Hotels (NMH) has announced its intention to make a significant early repayment of the loan it secured from the Mauritius Investment Corporation (MIC) in the coming weeks.

The decision, confirmed by NMH’s CEO, Stéphane Poupinel de Valencé, reflects the hospitality group’s dramatically improved financial health over the past three years.

Key Financial Performance

The group, which opened the financial year 2026 (1 July 2025 to 30 June 2026) on a positive note, attributes this move to its sustained strong performance:

• Turnover: NMH achieved a turnover of Rs 3.6 billion in the first quarter, representing a 9% increase compared to the same period last year, despite the quarter traditionally being the low season and the Shandrani Beachcomber Resort & Spa being closed.
• Net Profit: The group reported a net profit of Rs 121 million, a major reversal from a loss of Rs 67 million in the previous year’s comparable period.
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) rose to Rs 741 million, a 32% increase.

Mr. Poupinel de Valencé stated on Tuesday, 11 November: “This repayment, scheduled well before the initial due date, reflects our desire to act responsibly, consistent with our current financial situation.”

Strategy and Future Projects

The strong quarterly performance was driven by a high occupancy rate in the 5-star properties, enhanced revenue management, and a revised pricing policy following renovations. The CEO indicated that NMH will “continue its trajectory of growth and financial discipline while activating new value creation levers.”

Future plans for the group include:

• International Expansion:
  • Morocco: Continuation of discussions regarding the design and planning for the construction of a second resort, with Fairmont secured as the management partner. Work is expected to commence around July 2026.
  • Zanzibar: Due diligence is “progressing favourably” for the potential acquisition of a 5-star luxury resort.
• Mauritius Development: Construction of the Harmonie Beachcomber Golf, an 18-hole course at Les Salines in Rivière-Noire, is underway and anticipated to be completed in 2027.

The group did not specify the exact amount of the loan that will be repaid.

Source: Defi Media