Torarica Group of Hotels N.V.

—

What it is

N.V. Hotelmaatschappij Torarica was founded on 10 July 1962 and runs three hotels: Torarica Resort, Eco Torarica, and Royal Torarica.

All three sit on the waterfront and overlook the Suriname River, within walking distance of Paramaribo’s UNESCO-listed historic centre.

The founding hotel, opened in 1962 and now called Torarica Resort, set new standards for the country’s tourism industry by introducing innovations such as air conditioning and telephones. Royal Torarica, the group’s most upscale property, is a four-star hotel that opened in 2007 to serve both business and leisure guests seeking higher comfort.

The Torarica Resort, a four-star property on the Suriname River, offers 130 rooms with modern facilities. Beyond rooms, the group runs restaurants, a casino, a wellness centre, and event spaces that can accommodate up to 500 guests.

The company also runs the Torarica Community Fund, which supports tourism promotion in Suriname.

—

Who owns it

Torarica is listed on the Suriname Stock Exchange. The controlling shareholder and ownership split — that is, who holds the majority stake and what the freely tradeable portion is — are not published in the SSX company listing, the company’s investor-relations page (torarica.com/jaarverslag), or the annual-report documents accessed for this profile.

Not published: The Suriname Stock Exchange’s admission criteria require disclosure of audited financial statements and the size of the freely tradeable securities package (per SSE exchange regulations, listed companies must reveal the size of securities packages available for free trade and disclose audited financial statements), but the specific controlling-shareholder percentage is not reproduced in any publicly accessible SSX filing or company statement found in this research. The 2009/2010 annual report confirms a supervisory board (*Raad van Commissarissen*) chaired by J.J.

Healy Jr. at that time; current board composition is not published in any primary source accessed.

—

Who runs it

Dave Boucke serves as Chief Executive Officer of the Torarica Group. His role as *Hoofddirectie* (managing director) was already recorded in the 2009/2010 annual report, making him a long-tenured leader of more than 15 years at the helm.

Not published: A CFO or finance director is not named in any primary document or exchange filing accessed for this profile. The SSX does not publish a named finance officer for Torarica in its company listing.

—

The money, in plain words

Torarica’s detailed financial statements — annual revenue, net profit, and balance-sheet totals — sit inside Dutch-language annual-report PDFs hosted at torarica.com/jaarverslag. The PDFs themselves did not render extractable text in this research session, and the SSX company page does not reproduce the figures in machine-readable form.

Not published: Revenue and net profit for the fiscal years 2022–2023 and 2023–2024 could not be confirmed from the company’s own annual-report PDFs, the SSX’s member-company page, or the SSX’s own 2024 annual-report summary (surinamestockexchange.com, March 2025), which covers exchange-level trading statistics but does not break out individual company revenues. The SSX’s own 2024 report notes that 11,056 shares were traded in 2024 vs 11,501 in 2023 — a 4% decline — while the overall market index surged 355%, far outpacing inflation of 10.1%.

Torarica’s share price of SRD 1,344.20 (US$1 k)(as of 22 June 2026) was among the stocks that drove the index higher.

The share trades on a very thin market: the SSX matches buyers and sellers just twice a month, on the first and third Thursday. For any investor, low liquidity — few shares change hands — means prices can move sharply on small volumes and exiting a position may take time.

—

What it is doing now

A Long Stay Hotel with 116 apartments is planned for completion in 2026. This is the most material expansion the group has disclosed: serviced apartments, aimed at longer-staying business visitors and expatriates, are a different and steadier revenue stream than short-term hotel rooms.

Torarica Resort holds the Green Key environmental quality mark, recognising the property’s sustainability performance. The group is positioning the green credential as a selling point for business-travel clients, who increasingly face sustainability requirements from their own companies.

—

What to watch

• Long Stay delivery. The 116-apartment project, flagged for 2026, is the single biggest test of management’s execution. Any delay or cost overrun in Suriname’s still-volatile currency environment would be a material signal.
• Currency risk. Suriname’s dollar has been chronically weak; most hotel revenue is priced in US dollars or pegged to it, but operating costs are in Surinamese dollars. A stable SRD is a tailwind; renewed depreciation squeezes margins.
• Financial transparency. Annual reports are published on the company’s own site but are PDF-only and in Dutch, limiting reach to international investors. Improved disclosure — in English, with machine-readable data — would expand the investable universe.
• Shareholder structure. Until the controlling-owner identity and free float are formally disclosed, governance risk cannot be properly assessed by outside investors.
• Tourism momentum. Suriname is a niche destination; any pick-up in international arrivals — particularly if oil revenues lift local incomes — flows directly to Torarica as the country’s dominant hotel operator.

—

This is news, not investment advice.