Le Victoria Resort & Spa (44.4% interest)

Mara Delta expands African footprint with acquisition of Le Victoria Resort & Spa in Pointe Aux Piments, Mauritius

  • Mara Delta acquired a 44.4% interest in an entity owning three hotel assets in Mauritius from New Mauritius Hotels Limited (NMH) for a total purchase consideration of €50 million
  • The transaction is on a sale and leaseback basis with geared return in excess of 8.6% in Euro, providing Mara Delta with Euro denominated earnings from a triple net 15 year lease from NMH, escalating at Euro-harmonised CPI (minimum 1%)
  • Sale and leaseback basis, geared return in excess of 8.6% in Euro


Hospitality (no operational risk)

Anchor Tenant



Pointe aux Piments, Mauritius

Land Title


No of Rooms

254 (294 end Sept 2017)


US$ 69.4 million (100% of asset)

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