Rental Pool Operations

A RENTAL POOL OPERATION MANAGED BY VLH (Veranda leisure & Hospitality)

The Mauritian tourism industry is recognized as one of the finest in the world; it is well established and well regarded in the high-end tourism market.

As Mauritius broadens its tourism base from one million to two million visitors a year, the introduction of rental services for IRS freehold villas will add a new dimension to the country's tourism sector.

Whereas there has been a regular increase in the number of tourists visiting Mauritius over the past years, the occupancy of luxury hotels has been declining slowly. This is explained to a large extent by a gradual shift of the market away from expensive 5-star resorts offering full compulsory services with limited living space (a typical hotel room has an area of some 50 square metres), to self-contained luxury

resort residences offering very generous living space with à la carte services. Statistics indicate that some 40% of the 950,000 tourists who visited Mauritius in 2010 chose to stay in self-contained apartments or villas, whereas only 18% of the island's visitors did so in 2006.

That represents a fast-growing market of more than 400,000 tourists a year.

The Mauritius Government has introduced regulations for the orderly marketing and management of IRS villa rentals.

The regulations make it compulsory for IRS developers to take responsibility for the organisation and management of rental pools, requiring any villa rental in an IRS development to be undertaken through the given development company or an estate-management company designated by the development company.