Luxury hotel group New Mauritius Hotels on Wednesday swung to a loss of 758 million rupees ($21.14 million) in the year to September 30 from a pretax profit of 230 million rupees a year earlier, hit by a poor performance at its Moroccan business.

The company owns eight hotels in Mauritius, one in the Seychelles and another in Morocco. "The poor performance of Royal Palm Marrakech (RPM) continued to significantly affect the Group results, with Beachcomber Hotel SA (the company which owns and operates RPM) posting a negative profit after tax of 785 million rupees," NMH said in a statement.

NMH said it was in the final stages of negotiation with an international hotel operator with a view to handing over management of the Beachcomber Hotel to this company.

Copyright Reuters, 2016