| The Long Beach, belonging to hotel group of Sun | | | | IHS would certainly help the cash flow. It is also an |
| Resorts Ltd, which will resume their operation at the | | | | investment for the client, especially the Mauritian. |
| end of the year, will be the first hotel to sell hotel | | | | There would be a lifestyle and a service. There would |
| rooms in the Hotel Invest Scheme (IHS). | | | | be a return on investment. |
| Globally, 90 of the 255 rooms of the Long Beach, | | | | Announced in the Budget speech of 2009, the IHS |
| which was built on the site of the Coco Beach Hotel | | | | program provides alternative financing mechanism for |
| Belle Mare, will be sold to Mauritian and foreigners. | | | | developers of hotels. This scheme allows them to sell |
| The hotel required an investment of Rs 2.5 billion. | | | | hotel rooms, villas, suites or any other complex in a |
| In December of last year, seven hotels construction | | | | hotel to individual purchasers to accelerate the |
| projects under the IHS were being considered by the | | | | construction of new hotels. On the other hand, Mr |
| BOI. Two of them were approved, those of Sun | | | | Bhooshan Ramloll the Director of Bhooshan Company |
| Resorts Ltd and Ramloll Bhooshan Property Ltd. Mr | | | | has explained that they the sale of hotel rooms has |
| Nicolas de Chalain, the Managing Director of Sun | | | | great potential. They were going to diversify their |
| Resorts has on that occasion declared that there | | | | activities in the construction of a hotel in the context |
| were many applications. This was also in the context | | | | of HIS. The hotel Ramloll Bhooshan Property Ltd, |
| of democratization of the economy. They offer the | | | | which includes approximately 200 rooms, will be built |
| opportunity to Mauritian to have a property on the | | | | at Grand Gaube. The investment in this project would |
| beach. The cost of the room depend on the | | | | be some Rs 2 billion. Besides being a tool for |
| promoter and on most of the cost of construction. | | | | financing, the IHS also aims to broaden the scope of |
| The purchaser may stay free in his hotel room for a | | | | opportunities in the tourism industry. |
| maximum of 45 days per year. The rest of the year, | | | | It is therefore considered as an essential element of |
| the room will be rented to other guests. | | | | the BOI's investment strategy where it allows a |
| The buyer will have the opportunity to sell the house, | | | | wider range of the Mauritian population to participate |
| but under certain conditions, however. Nicolas de | | | | as investors, contractors and developers in the |
| Chalain has also stressed out on the fact that the | | | | tourism sector. |