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

New Mauritius Hotels Ltd. (NMH), 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.

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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