LUX Island Resorts posts $191 million revenue, higher profit in 9M 2026

LUX Island Resorts, the luxury hotel operator backed by Mauritius-based IBL Group, posted higher revenue and profit for the nine months ended March 31, 2026, supported by stronger tourist arrivals across its key island destinations and steadier demand in premium travel.

Revenue rose to MUR8.9 billion ($191 million) from MUR8.2 billion ($176 million) a year earlier, putting the company on track to exceed $250 million in full-year sales if current conditions hold. The improvement reflects firmer trading across its resort portfolio in Mauritius, the Maldives, and Réunion Island, even as parts of its market remain sensitive to disruptions.

Steady occupancy supports profit growth

Profit for the period increased to MUR1.21 billion ($25.9 million) from MUR1.06 billion ($22.66 million) in the prior year. Earnings per share rose to MUR8.85 ($0.18) from MUR7.78 ($0.16), helped by steady occupancy rates and disciplined cost management across its operations.

The company said performance in the Maldives was affected at points by reduced traffic from Gulf carriers, which account for roughly 70 percent of seat capacity into the destination. Even so, demand from China and Russia helped support arrivals. Mauritius continued to draw visitors primarily from Europe, which remains its largest source market.

Tourist arrivals across the Maldives reached 1.77 million for the nine-month period, up from 1.66 million a year earlier. Mauritius also recorded growth, with arrivals rising 5.9 percent to 1.126 million from 1.063 million. Management said the gains helped offset uneven conditions in some long-haul routes.

LUX Island Resorts’ assets surge to $437 million

LUX Island Resorts, which operates several high-end properties and manages long-term asset development strategies, is controlled through a 56.47 percent stake held via IBL. The Lagesse family maintains control through the broader structure of the group. The company continues to focus on premium leisure travel while balancing property ownership with operational returns.

During the period, it completed the acquisition of land for LUX Saint-Gilles in Réunion Island, funded through a mix of internal cash and bank borrowing. That transaction lifted gearing to 20 percent as of March 31, 2026, from 15 percent at the end of June 2025. Net cash stood at MUR1.07 billion after debt repayments, including prepayment of MIC Convertible Bonds.

Total assets increased to MUR20.44 billion ($437 million) from MUR19.29 billion ($412.4 million), while shareholders’ equity rose to MUR10.19 billion from MUR9.89 billion over the same period. The board declared a final dividend of MUR1.75 ($0.03) per share and said eligible shareholders may opt to receive payment in euros.