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New Mauritius Plunges to Seven-Year Low as July Arrivals Retreat

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Aug. 17 (Bloomberg) -- New Mauritius Hotels Ltd., the country’s biggest leisure operator by market value, slumped to a seven-year low after Statistics Mauritius announced tourism arrivals fell in July.

The stock slid 1.7 percent to 58 rupees a share by 11:52 a.m. in Port Louis, the lowest since May 2005.

Arrivals declined 2.4 percent to 76,166 from a year ago, the data agency said in a statement on its website today. Tourists coming from Europe dropped 15 percent, led by a 30-percent contraction from France, which is Mauritius’ biggest market by country, it said.

New Mauritius, which owns and manages eight hotels under the Beachcomber brand in the Indian Ocean island nation, slid 15 percent this month, the second-worst in the 39-member SEMDEX index, data compiled by Bloomberg show. The gauge slipped 1.9 percent over the same period.

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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