Banyan Tree has signed a new management contract in the Republic of Mauritius, to operate a new resort located in the Indian Ocean off the coast of Africa. This will be the first project for the Group in Mauritius. This…
Banyan Tree has signed a new management contract in the Republic of Mauritius, to operate a new resort located in the Indian Ocean off the coast of Africa. This will be the first project for the Group in Mauritius. This follows on earlier announcements in the year on management deals in China and Mexico and its recently announced management deal in Bodrum, Turkey.
“Banyan Tree has always enjoyed a strong presence in the Indian Ocean as a premier operator of top end resorts and residences. This project further entrenches our pole position in the region and enhances our ability to continue to provide our guests with exclusive getaways in the most exotic surroundings,” said Executive Chairman, Mr Ho Kwon Ping.
Banyan Tree will manage its first luxury resort property in Mauritius in collaboration with Tatorio Holdings Limited, a subsidiary of Greenoak Holdings Limited. The first phase of the project will be launched with the start of the sales of the branded residences this October. The resort is projected to be completed in 2010.
This new development is not expected to have any material financial impact on the Group’s earnings and its net tangible assets for 2007.
