KHI acquires Mövenpick Mauritius
Mövenpick Resort & Spa Mauritius has been acquired by Dubai-based development group Kingdom Hotel Investments (KHI) for US$50m (41.3m euro, £28.9m).
The five-star property, formerly Mövenpick Voile d’Or Resort & Spa, is located in the Bel Ombre resort area in south-west Mauritius and will continue to be operated by Mövenpick.
A spokesperson for KHI said: “This acquisition represents a unique opportunity to secure a prime property in one of Africa’s most prestigious resort markets and is in line with KHI’s international expansion strategy to penetrate the first class and luxury market segments in high growth markets.
“KHI expects the hotel to achieve its target return on capital employed by 2008.”
The resort full opened in 2004 and has been operated by Mövenpick since October 2005.
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