Table of Contents
Key Points
- LUX Island Resorts posted a 22% profit increase, reaching $12.5 million for H1 2025, driven by higher tourist arrivals in Mauritius and the Maldives.
- Revenue rose 16% to $115.7 million, reflecting a surge in tourism with Mauritius and the Maldives seeing significant upticks in arrivals.
- LUX Resorts' total assets grew to $422 million, supported by strong performance and a 7% rise in ADR across its properties.
LUX Island Resorts Limited, the luxury hotel operator controlled by the Mauritian Lagesse family, has posted strong financial results for the first half of its 2025 fiscal year, with profit surpassing $12 million. This growth is largely due to an increase in tourist arrivals across its key markets of Mauritius and the Maldives.
In its recently published unaudited results for the quarter and semester ending Dec. 31, 2024, LUX Island Resorts reported a profit of MUR579.86 million ($12.5 million), up 22 percent from MUR475.12 million ($10.26 million) in the same period of 2024.
This boost in profit comes alongside a 16 percent increase in revenue, which rose from MUR4.61 billion ($99.6 million) to MUR5.36 billion ($115.7 million) in the first half of the year. The rise in revenue was driven by a surge in tourist arrivals in Mauritius and the Maldives.
Mauritius and Maldives see uptick in tourist arrivals
Tourist arrivals to Mauritius saw a 4 percent increase to 410,000 in Q4 2024, with Europe making up 67 percent of the total. For the full six-month period, arrivals totaled 737,000, up from 699,000 a year earlier.
The Maldives experienced a 7 percent rise in Q4 arrivals, reaching 555,000, with Russia and the UK leading the way at 11 percent and 10 percent, respectively. Total arrivals for the semester reached 1.03 million, compared to 949,000 in 2023.
In terms of hotel performance, Mauritian hotels maintained an impressive 83 percent occupancy rate in Q4 2024. A 20 percent increase in average daily rate (ADR) helped boost revenue per available room (RevPAR) by the same margin.
In the Maldives, LUX South Ari Atoll saw a slight dip in occupancy to 68 percent, but a 7 percent rise in ADR lifted RevPAR by 3 percent. Meanwhile, LUX Saint Gilles in Reunion Island saw a small increase in occupancy to 75 percent, with a 4 percent ADR rise driving a 5 percent growth in RevPAR.
Lux Island Resorts’ assets grow to $422 million
Lux Island Resorts, one of the Indian Ocean’s premier hospitality companies, is part of the Mauritius-based conglomerate Ireland Blyth Limited (IBL), which operates luxury properties across Mauritius, the Maldives, and Reunion Island. The Lagesse family, through IBL’s 56.47 percent stake, holds significant influence over the company’s operations.
Focused on high-end tourism, Lux Island Resorts develops and operates properties in some of the world’s most desirable locations. With strategic partnerships and a strong focus on asset management, the company ensures that its resorts meet the highest standards, offering guests unforgettable experiences while delivering solid returns for investors.
In the first half of its 2025 fiscal year, Lux Island Resorts demonstrated strong financial performance. As of Dec. 31, 2024, its total assets reached MUR19.53 billion ($422 million), up from MUR18.96 billion ($410.6 million) on June 30, 2024. Total equity also saw a healthy increase, rising to MUR9.32 billion ($201.3 million) from MUR8.5 billion ($183.6 million).
