At a Glance
- LUX* revenues climb 8.3% to $127.6 million, driven by Mauritius and Maldives visitor growth.
- Hotel occupancy rises across properties, boosting RevPAR and average daily rates significantly.
- Net profit jumps 23%, interim dividend declared, reflecting strong operational and financial performance.
Mauritius-based Lux Island Resorts Ltd (LUX*), the hospitality arm of IBL Ltd, has reported strong half-year results (H1 2026), with revenue rising 8.3 percent to MUR5.81 billion ($127.6 million), up from MUR 5.36 billion ($117.8 million) a year earlier.
The Growth was driven by a rebound in tourism across Mauritius, the Maldives, and Reunion Island, boosting hotel occupancy and average daily rates.
Tourism momentum underpins growth
According to LUX*’s unaudited report, visitor numbers in Mauritius for the semester ended 31 December 2025 increased 5 percent year-on-year to 777,000, with Europe remaining the dominant market at 66 percent of arrivals.
The Maldives saw arrivals rise 10 percent to 1.1 million, driven primarily by travelers from China (17 percent) and Russia (13 percent). This surge in arrivals directly supported occupancy growth and revenue performance across LUX*’s portfolio.
Operational metrics highlight robust performance
Hotels in Mauritius recorded an occupancy rate of 87 percent, up four points from last year, while average daily rates (ADR) increased 4 percent, boosting RevPAR (Revenue per available room) by 9 percent.
LUX* South Ari Atoll in the Maldives saw occupancy climb to 72 percent, lifting RevPAR by 6 percent. LUX* Saint Gilles in Reunion Island also improved occupancy to 77 percent, increasing RevPAR by 9 percent. Overall, group-wide occupancy reached 83 percent, with ADR and RevPAR up 4 percent and 8 percent, respectively.
Financial strength and shareholder returns
LUX*’s net profit rose 23 percent for the semester to MUR714 million ($15.69 million). EBITDA and operating profit grew 16 percent and 18 percent, respectively, while gearing improved from 20 percent to 13 percent, with net cash of MUR1.48 billion ($32.52 million) following debt repayments. The Board declared an interim dividend of MUR1.25 ($0.02) per share, payable March 9, 2026.
Outlook
Bookings for the third quarter suggest continued momentum, with LUX* expecting solid results for the nine months ending March 31, 2026, assuming current market conditions persist.
The group’s performance underscores Mauritius’ continued appeal as a high-end tourist destination and reflects IBL’s strategic focus on premium hospitality assets.
