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LUX Island Resorts Limited, the luxury hotel operator controlled by the Mauritian Lagesse family, reported a stronger-than-expected first half amid rising tourist arrivals across the Indian Ocean. Half-year revenue climbed above $127 million, supported by steady demand from Europe for its Mauritius properties and renewed travel from Asia into the Maldives.
Revenue, profit rise on tourism demand
Unaudited results for the six months ended Dec. 31, 2025, show revenue rose to MUR5.8 billion ($127.47 million), up from MUR5.36 billion ($117.8 million) a year earlier. Profit increased 23 percent to MUR714 million ($15.7 million), from MUR580 million ($12.7 million), reflecting higher occupancy levels and firmer room pricing across most of its portfolio.
Tourism trends in the company’s core markets underpinned the performance. Tourist arrivals to Mauritius rose 5 percent during the period to 777,000, compared with 737,000 in the first half of the previous fiscal year. Europe remained the dominant source market for Mauritius, accounting for 66 percent of arrivals. In the Maldives, where China remains a key feeder market, visitor numbers increased to 1.1 million from 1.03 million a year earlier.
Hotel occupancy, pricing strengthen revenue performance
Operationally, the final quarter of the half-year delivered solid gains. Group-wide occupancy reached 83 percent, three percentage points higher than the same quarter last year. Average daily rate (ADR) rose 4 percent, while revenue per available room (RevPAR) increased 8 percent. In Mauritius, hotels recorded occupancy of 87 percent, up four percentage points year-on-year thus lifting RevPAR by 9 percent alongside higher room rates.
Performance in other destinations was more mixed but still positive. LUX South Ari Atoll in the Maldives posted occupancy of 72 percent, four points higher than last year, though room rates were largely unchanged, resulting in a 6 percent increase in RevPAR. In Reunion Island, LUX Saint Gilles improved occupancy by two percentage points to 77 percent, while a 5 percent rise in ADR pushed RevPAR up 9 percent.
LUX Resorts lifts assets, dividend
LUX Island Resorts operates luxury properties across Mauritius, the Maldives and Reunion Island and forms part of the Mauritius-based conglomerate IBL Group. The Lagesse family exerts control through IBL’s 56.47 percent stake. LUX focuses on high-end leisure travel, combining resort development with asset management aimed at protecting long-term value.
As a result of its solid half-year financial performance, the group’s balance sheet also strengthened. Total assets stood at MUR19.7 billion ($432.9 million) as of Dec. 31, 2025, compared with MUR19.5 billion ($428.5 million) at the end of June 2024. Total equity increased to MUR9.84 billion ($216.2 million) from MUR9.32 billion ($204.8 million).
Reflecting the improved results, the board declared an interim dividend of MUR1.25 ($0.274) per share, payable on March 9, 2026. The company said bookings for the third quarter ending March 31, 2026, are running ahead of last year, supporting expectations for stronger nine-month results, assuming current market conditions remain stable.
