our

transformation
journey
Welcome note from the Chairman 02

Sun at a glance 04

Strategy & Business model 08

Strategic plan 2014 - 2019 09

Corporate citizenship 10

Hotel management 12

Centralised services 30

Asset management 38

Real estate 44

Sun Limited’s performance 50

2014 - 2019 Road map 52

Strategy progress report and 2016 outlook 53

Strategy execution 54

Investing in Sun 55
 WELCOME NOTE
FROM THE CHAIRMAN

“We have
re-visited
2 our business
model and re-
ignited our
engine of
growth to I have pleasure in welcoming you to a new beginning for the Company.

benefit our On 24 September 2015, you approved the adoption of a new company name from
Sun Resorts Limited to Sun Limited to reflect the organisational transformation of the
corporate structure, as defined in our 2014-2019 strategic plan. This name change

shareholders “ effectively completed the repositioning of our new business model and allows us to
reflect the breadth and depth of your Company’s strong expertise in the hospitality
industry by focusing on four clusters of growth, namely Hotel Management,
Centralised Services, Asset Management and Real Estate.

Behind this reorganisation, there was a substantial amount of work and resources.
At the end of 2013, the Board realised that in the face of an extremely competitive
tourism environment, low growth in tourist arrivals to Mauritius and declining
profitability, it was vital to re-visit our business model with a view to modernise,
compete and re-ignite the engine of growth to benefit all our stakeholders including

our shareholders. This has resulted in the Company adopting
a new business model and a strategic plan for the next five
years, which was approved by the Board in June 2014. As
I look back over the past 18 months, we have been on a
transformation journey with the execution of four major
transactions and six large projects. In particular, I would like
to highlight our partnership with the Shangri-La Group in
respect of Le Touessrok resort and the acquisition of Four
Seasons Resort Mauritius at Anahita.
On the operational side, we have completed two major
initiatives: the rebranding of all our resorts which are now
managed under the Sun Resorts brand and the deployment
of a company-wide Enterprise Resource Planning (ERP)
platform, following a thorough Business Process Review,
a first in the local tourism industry. In addition, Sun’s
Operations and Innovation support team have put together
a host of far-reaching programmes aiming, for instance,
at matching the right amount of associates with actual
occupancy and aligning productivity measures across all
hotels in line with international standards. In that respect,
processes and operational procedures have been modernised
in order to empower team leaders at the resort level.
With the ERP now effectively deployed, they will be fully
responsible with just-in-time purchasing, managing their
costs and stocks with the objective of achieving sustainable
performance through direct ownership to each individual
department head.
In March 2014, we also deployed automated Guest
Satisfaction surveys (with post-stay message features) and
Key Performance Indicator measurement processes. These
enable us to manage our online reputation based on guest
review sites or any online travel agents. It also helps create
a scoreboard to get a general overview of our hotel or
group departmental index performance. We believe that the
strengthening of our organisational structure will allow us
to improve on competitiveness and service our guests better.
This, in turn, will also allow us to fuel our growth in the years
to come.
SUN LIMITED - ANNUAL REPORT 2015
I would like to seize this opportunity to congratulate and
thank all our team members for the good work done in
implementing all these new processes.
Beyond the adoption of a fresh corporate name and identity,
the Company’s values and commitment to its shareholders,
customers, employees and all its stakeholders remain
unchanged.
Continuing our commitment to working in a sustainable
way, Sun Limited has produced an online version of its
annual report and we encourage you to download it from
our website at www.sun-limited.com. We hope you find our
report informative and helpful in learning about Sun Limited,
its performance and achievements throughout the past
eighteen months.
I would like to conclude by expressing my sincere
appreciation to Mr Philippe Cassis, our outgoing Chief
Executive Officer, who left the Company at the beginning of
October 2015. He has been instrumental in the definition
and execution of the strategy as well as improving our
operational excellence during his two years with us and I
wish him every success in his new role.
As this report goes to press, the Board is actively looking
for a suitable successor and has asked Mr Jean-Pierre Dalais
to chair the executive committee until the CEO position is 3
filled. My sincere thanks also goes to my fellow Directors,
Management and all associates for their commitment to this
new era.
We look forward to sharing our progress with you again.
P. Arnaud Dalais
Chairman of the Board
 SUN AT A GLANCE
Sun Limited is a 100% Mauritius-based company and one Since September 2015, the Company has been reorganised
of the leading hotel, leisure and real estate groups in in 4 Clusters:
the Indian Ocean since 1983. Headquartered in Ebene,
Mauritius, the Company is engaged in hospitality, service and - Hotel Management
property sectors. - Centralised Services
- Asset Management
- Real Estate

HOTEL MANAGEMENT CLUSTER CENTRALISED SERVICES CLUSTER ASSET MANAGEMENT CLUSTER REAL ESTATE CLUSTER

4 SUN HOTEL SUN

SUN RESORTS HOTEL MANAGEMENT LTD SUN SUPPORT LTD SUN REAL ESTATES LTD
INVESTMENT LTD HOLDINGS LTD

TOUR OPERATORS

Inve st Hote l Scheme

a sun resorts company

LAUNDRY &
LINEN RENTAL

PROCUREMENT
RETAIL
I nvest Hotel Sc hem e

FINANCE
HUMAN RESOURCES

INFORMATION
TECHNOLOGY

TRAINING
SUN LIMITED - ANNUAL REPORT 2015

5
 SUN AT A GLANCE

6 304
18 months period ended 30 June 2015

+3,700
Employees revenues
RS , M
100%
Mauritian hotel group

Owned & managed

8
properties in the Indian Ocean

1,504 Rooms

+12,200
Shareholders

International Partners
2
Shangri-La
Four Seasons

Representative offices in Madrid,

5
Milan, Mumbai, Shanghai and Beijing

For information purposes: 1 US Dollar = 36.25 Mauritian Rupee (Rs), 1 Euro = 39.46 Mauritian Rupee (Rs), as at 6 November 2015.
 SUN LIMITED - ANNUAL REPORT 2015

+17,700
Honeymooners

+750
Weddings

In-house tour operators

Solea Vacances,
2
World Leisure Holidays

Brand Ambassadors
80 7

Golf courses
2
Four Seasons Golf Club
Mauritius at Anahita
Ile aux Cerfs Golf Club

Private islands
Mauritius & Maldives
5
Sales & marketing offices in
3
London, Paris and Frankfurt
 STRATEGY & BUSINESS MODEL
Our 2014-2019 Strategic Plan revolves around four -- Training services
dimensions:
-- Finance support functions
• Re-branding
Going forward, we will be looking at offering our broad
• Asset management
range of services to city hotels and franchises as well.
• Hotel management
As we transform our organisation, we are evolving our
• Growth
business model from Business-to-Business to Business-to-
Consumer. We also aim at de-risking our exposure to the
In addition to the well-established Sun Resorts hotel
Mauritius destination with diversified, more predictable and
operations, we have developed two adjacent businesses:
more profitable revenue streams.
• The asset management cluster hosts our partnerships with
leading international groups, such as the Four Seasons We are encouraged by the progress thus far and will
Resort Mauritius at Anahita and Shangri-La’s Le Touessrok continue to develop a pipeline of potential organic and
Resort & Spa, for our high-end hotels. regional growth opportunities to fuel growth of the Sun
Hotels and Resorts portfolio by seizing organic as well as
• A centralised services cluster has been created to become
regional growth opportunities. In this respect, we will seek
the go-to hotel management service partner for our
hotel management contracts for beach resorts and city hotels
existing owned or leased hotels as well as for hotels we
in strategic locations, such as Mauritius, Tanzania, Zanzibar,
do not own. These competitively priced services include:
Maldives and Sri-Lanka.
-- Sales and distribution with two tour operators, Solea
Vacances in France and World Leisure Holidays in
South Africa
8
-- Professional hospitality services (such as laundry, linen
rental through Washright Services, and retail stores)

Increase in our share

in tourist arrivals
+8,2%
in Mauritius
 SUN LIMITED - ANNUAL REPORT 2015

STRATEGIC PLAN 2014 - 2019

GROWTH HOTEL MANAGEMENT

Regional growth Continue managing existing
owned / leased hotels

Organic growth
Manage third-party hotels

Diversification to include city

hotels and franchises

Qualified team
40 years of
expertise
Efficient centralised 9
services

REBRANDING ASSET MANAGEMENT

Management company Existing high-end hotels
Single-brand to multi-brand

Partnerships with international hotel

Asset company operators

Holding company
 CORPORATE CITIZENSHIP
Sun intends to formalise a Global Citizenship policy to reflect
its strong belief that ‘caring for people and planet’ is both
“Sun’s commitment
a company responsibility and a condition for long-term
business success. to environmental
By building on the long-standing social and environmental sustainability will
involvement of the Group, this policy will establish one single
framework for the commitments and practices in areas
considered critical to its activities, such as Environmental
play a fundamental
role in our success
Performance, Health & Safety and Community Engagement.

Our goal is to achieve the highest, harmonised standards

across all Group operations. and achievement
On Environmental Performance, energy and waste
management are prioritized. Following a comprehensive of our goals.”
energy audit conducted at all hotels in 2014, energy saving
measures have been implemented, as the Group has set
ambitious energy reduction targets. Since February 2015, we
have set up an energy management committee in all resorts
with a common platform to share idea and information to
reduce our energy costs and educate all associates in this
global initiative.
10
Sun is currently seeking to extend recycling to all its
ACHIEVEMENT
operations in Mauritius and to ensure an optimal waste

2 24 M
management system is in place across the Group.

RS ,
Sustainability is part of the Sun business model and
business practices. Our customers and guests are
increasingly choosing brands that share their commitment
to sustainability. Through collaboration with our resorts’ Redeemed on electricity
management, business unit and partners, we will actively savings thanks to LED blubs
work to reduce the environmental impact on our business
activities and continually improve on practices aimed at

RS 4.4 M
preserving natural resources.

Associate participation is critical to the implementation and Saved on gas due to

overall success of Sun environmental program and standards. Solar Systems

OBJECTIVES BY 2020

-30%
Energy usage per built room

-20%
Water usage per built room
SUN LIMITED - ANNUAL REPORT 2015

11
12
 SUN LIMITED - ANNUAL REPORT 2015

Hotel Management
SUN RESORTS HOTEL MANAGEMENT LTD

13
 HOTEL MANAGEMENT CLUSTER
OUR BRAND EVOLUTION
• Re-enforcing our Company culture:
Who we are as an organisation and brand
• Redefinition of our brand architecture
• Creation of umbrella values and aligned standards under
one strong brand
• Strengthen each hotel’s individual identity and
positioning
• Evolution from Business-to-Business to
Business-to-Consumer
• Integration in Sun Limited Corporate Identity
• Emphasis on common team culture and shared values
14
DIVERSE IN SPIRIT
At Sun Resorts, we are about creating timeless memories.
Every person is unique. Every story is distinct. And at any one
time, we each have individual desires.
Our resorts offer our guests a wealth of possibilities –
possibilities to fulfill their own physical and emotional needs,
and the opportunity to reconnect with themselves, family
and friends.
Whatever your story, Sun Resorts provides blissful holiday
retreats in the Indian Ocean to create memories that last a
lifetime.
Sun Resorts’ dedicated teams, who originate from more
than 20 countries around the world, are waiting to welcome
guests with warm smiles. Their generous hospitality and
eagerness to provide guests with incomparable service is
why Sun Resorts has sustained its reputation of excellence for
40 years.
 SUN LIMITED - ANNUAL REPORT 2015

Timeless memories

“At Sun Resorts,

15

we believe that every person

is unique and different
at any one time of life”
 OPERATIONS AND INNOVATIONS
Designing a framework to implement ODEL KEEPI
SM NG
NES N TH
EB
strategy into operations I
S TI O EL
BU VA TS
G NO
• Establish and implement operating policies, system N

N
T

RU
GI
EN

NN
IN

EX
directives, procedures and standards to support corporate SHARING THE ENSURING

BR
OPM

IN
FUTURE OF SUITABLE OPERATIONS

ECU
G
strategy THE BUSINESS MANAGEMENT

DEVEL

TION
• Assist support functions (Human Resources, IT, Finance, 5 1

Renovations and Designs, etc...) in setting up procedures

THE ION OWNER

IMPROVING
that integrate corporate strategy into operational DRIVING KEY

ESS
OPTIMISING
CHANGE AND 4 2
excellence OPERATIONAL

BUSIN
TRANSFORMATION
PROCESSES
INITIATIVES 3

T
• Translate strategic Company goals into a tangible working

A
BE FORM

YO
reality for employees DESIGNING A

URT
G
FRAMEWORK TO

NS
IN

UR
A
IMPLEMENT STRATEGY
• Derive goals for business units from the vision and

TR

strategy
• “Creating and owning” intellectual property (including
setting up strategy and processes to generate, identify
and secure intellectual property)
• Support brand management and creation of reputation
by delivering products and services of highest quality
Shaping the future
16
• Innovate existing business model by linking market
developments back to operations
• Develop and design new hotel, restaurant and spa
concepts with innovative designers and international
partnerships.
• Create a framework for innovation processes (e.g. by
engaging workforce, clients and suppliers)
• Portfolio alignment
• Ensure usage of enabling technologies and workflows
F
INTO OPERATIONS
MA L
KI N G
TH E V I SI O N R
EA
E N A BLE M ENT
Optimising operational management and driving key
changes in all transformation initiatives
- Managing & coordinating innovative & lean operating
processes within the hotels and head office (including
alignment of support functions)
- Managing infrastructure and interfaces within the
service value chain
- Increasing operational agility (e.g., flexibility of the
value chain)
- Optimization across silos (i.e. value chain optimisation)
- Aligning resources and finding synergies within
operations
- Increasing efficiency (e.g. integrated supply chain
management profitability and cost improvement, …)
- Managing skills and transformational activity alignment
(e.g. matching of talent to change initiatives)

“Operational innovation is at the heart of

+800
our organisation to drive and implement
key changes amongst all stakeholders with
a continued view to evolve towards lean
processes, improved customer & associates’
service standards satisfaction, as well as increased

audited
shareholder value.”

Grégory De Clerck,
Group Director of Operational Innovation
 SUN LIMITED - ANNUAL REPORT 2015

LET’S JAM: OUR 3 CULTURAL VALUES

J
Early 2015, Sun Resorts launched its new visual identity.

As part of the rebranding exercise, a corporate training

programme, “Sensing the Brand”, was rolled out with the
objective to reach out to all our Associates to reinforce the
oué ensam
sense of unity and belonging around the redefined core Play as a team

A
values.

80 Associates are now trained and certified to be the Brand

Ambassadors of the Group and they have reached out to
3,000 other Associates, hence creating the ripple effect in
strengthening this common sense of purpose and identity.
ccomplir ce ki bizin
Do the right thing

M
This training was intended to create a sense of belonging
amongst employees and redefine the values ​​of the Group ​​
“Joué ensam”, “Accomplir ce ki bizin” and “Met valeur dan
tou non-stop”, or JAM.

“Making Associates own the values of the

et valer dan tou non-stop
Keep adding value
organisation requires them to first and foremost
give meaning to those values and then internalising
them. Then only values are lived in the organisation
and they guide our daily behaviours in our 17
interaction with colleagues and guests.”

Annsha Taukoordass, Group Director of Human Resources

80 brand ambassadors
trained to Sun Resorts’ identity
 HOTEL MANAGEMENT CLUSTER

18

the
genuine
spirit
 SUN LIMITED - ANNUAL REPORT 2015

248
Rooms

5
Restaurants including
Sugar Beach sister resort

3
Bars

Sun Kids Club

Award-winning Spa

2
Conference rooms
250m2 and 350 m2

19
An iconic Mauritian resort, full of charm and
genuineness. It’s authentic and comfortable
bungalows are nestled in the heart of a 14 hectare
coconut plantation bordering one of the island’s
finest beaches.

Cozy thatch-roofed bungalows set amongst a lush

coconut grove on the flamboyant sunset coast distinguish
the unrivalled charm of La Pirogue. Weaving privacy and
tranquility, La Pirogue sees that guests step out from their
very own island home onto an exquisite garden, endless
beach and a vast lagoon.

This is the place to bathe in the never-ending summer,

enjoy a wide range of water sports, or simply soak up the
sun. La Pirogue sets a relaxed and carefree pace.

Here at La Pirogue, the heartbeat of Mauritius reaches

out to our guests with a unique pulse and genuine
consideration that creates a special sense of belonging.
 HOTEL MANAGEMENT CLUSTER

258
Rooms

Restaurants including
5
La Pirogue sister resort

4
Bars

Sun Kids Club & Teens Club

Award-winning Spa

294 m2
Function and
conference room
20
A plantation style hotel located on the leeward west
coast of Mauritius offering luxury accomodation and
a splendid Spa in more than 12 hectares featuring
beautiful landscaped tropical gardens.

Expanding along an extraordinary stretch of pristine

coastline, flanked by an unspoiled lagoon, Sugar Beach is
located on the sun-drenched west coast of Mauritius.

Steeped in the time-honoured traditions of the Mauritian

culture, Sugar Beach features contemporary architecture
reminiscent of a classic colonial mansion.

This luxury, five-star resort is an excellent choice for an

unforgettable family getaway. With an abundance of
activities and facilities for the children and parents to enjoy,
it provides a multitude of options that enable guests to
choose their own space and pace.
 SUN LIMITED - ANNUAL REPORT 2015

the day
is made

21
 HOTEL MANAGEMENT CLUSTER

feeling
the energy

22
 SUN LIMITED - ANNUAL REPORT 2015

+1.3 km
of Beach

255
Rooms

5
Restaurants

3
Bars

Free shuttle and access to 23

Ile aux Cerfs Golf Club

Sun Kids Club & Teens Club

A family friendly resort where the Mauritian heritage
is perfectly represented by its diverse cuisine offering
an exciting culinary experience from Europe to Africa,
from Indian Ocean to Asia.
Sea Spa
12 treatments rooms / hammam
Enjoying an expansive beach along the lively eastern coast
and arguably one of the most contemporary resorts of 110 m2 function rooms
Mauritius, Long Beach challenges the ordinary with its

4
distinctively bold, island chic, vibrant offer.

Committed to high-spirited families seeking energy and

excitement, Long Beach offers diverse facilities that allow for Pools
exploration and discovery. There are endless possibilities to
unwind and reenergise – from a climbing wall to swimming
pools, quiet spaces and a nature and sea-inspired spa.

At Long Beach, guests will leave radiating with the

excitement and happiness that comes from good times
shared.
 HOTEL MANAGEMENT CLUSTER

297
Rooms

Restaurants
3
2
Bars

Spa

140 m2
function room

24 An adult-only all-inclusive beach resort with

3 restaurants and 2 bars, boasting a 700 m coral
sandy beach running along a sheltered bay.

Set along a sunny bay on the untamed east coast of

Mauritius, flanking a crystal clear lagoon, the resort is
perfectly positioned to capture the early morning
sunrise and instantly ease guests into the light
and rhythmic ambience that is Ambre.

Cozy, casual and cheerful, Ambre is the perfect

getaway for the young-at-heart who crave a carefree
holiday. Ambre is the place to energise, mix and mingle –
enjoy good company and experience the joy of discovery.

Relax your mind, revitalise your body, and refresh your

senses at Ambre, where life is simple.
 SUN LIMITED - ANNUAL REPORT 2015

the light
side of life

25
 HOTEL MANAGEMENT CLUSTER

your island
on an island

26
 SUN LIMITED - ANNUAL REPORT 2015

18
Holes par 72

6,500
Meter Course

3
Restaurants

2
Bars

GPS Equipped Carts

One ‘Private’ Beach

LEISURE ISLAND

Our very special and iconic Ile aux Cerfs is a complete 27

leisure, pleasure and golf destination.

Just a short trip off the east coast, guests arrive on the
idyllic ivory sand banks and shimmering beaches, set
amongst lush vegetation – offering holiday-makers a
sense of adventure.

ILE AUX CERFS GOLF CLUB

Risen from the sea and nestled on the divine island, the Ile
Aux Cerfs Golf Club is easily accessible by private water taxi
to an exclusive pier.

Designed by Bernhard Langer, the golf course unfolds

its world famous championship greens on the secluded
southern area of the island, to its farthest tip.

The 18-hole, par-72 manicured course is approximately

6,500 meter long and includes strong parkland features and
4 tee options. Sheltered by dense casuarinas, the course is
conveniently toured with GPS-equipped carts.

Guests can also enjoy the driving range, which counts five
target greens, as well as the club’s state-of-the-art golf
academy – complete with an indoor swing studio and
computer-aided analysis. The Club House is home to the
Langer’s Bar & Grill, which caters to anything from quiet
breaks to exquisite lunches.
 HOTEL MANAGEMENT CLUSTER

100
Villas

Private islands
2

Restaurants
4
2
Bars

Sun Kids Club

Spa

Minutes by seaplane
35
28 from Malé

A precious island featuring elegant villas on stilts over the

beautiful turquoise waters of this exclusive Maldivian atoll.
An ultimate castaway chic experience, a relaxed atmosphere
with an exceptional Spa, numerous activities.

A private island awaits you in the idyllic Maldives,

sea-moored and secluded villas provide a haven amongst
nature’s paradise.

Located in one of the Maldives’ most spectacular atolls,

surrounded by a strip of pure white sand and stunning
turquoise waters, Kanuhura is the essence of authentic and
relaxed extravagance, and is renowned for
its barefoot luxury.

Kanuhura offers a genuine generosity of spirit, reminiscent

of the local culture and the essence of Kanuhura’s lifestyle –
natural, luxurious, simple and meaningful.

A sense of bliss.

Resorts & Spa • Maldives

 SUN LIMITED - ANNUAL REPORT 2015

sense of bliss

29