Mauritius luxury hotelier Riveo Limited slashed its quarterly net loss to MUR11.56 million as revenue more than doubled following heavy resort makeovers. The Ebène-based group capitalized on newly reopened beachfront flagships to stage an aggressive operational comeback just ahead of the Indian Ocean island’s lucrative peak winter holiday travel rush.

According to abridged financial statements for the quarter ended Sept. 30, 2026, the company’s bottom-line deficit contracted from MUR179.16 million ($3.79 million) a year earlier. Pretax losses narrowed to MUR7.02 million ($148,310) from MUR216.96 million ($4.59 million), helped by swift post-renovation bookings and firm room rates.

Flagship resorts drive rebound

Revenue jumped to MUR923.46 million ($19.52 million) from MUR425.26 million ($8.99 million) in the prior-year period. Operating profit touched MUR60.74 million ($1.28 million), reversing a loss of MUR175.61 million ($3.71 million). Earnings before interest, taxes, depreciation, and amortization reached MUR167.15 million, yielding an 18.1 percent margin.

Much of that top-line momentum came from Four Seasons Resort Mauritius at Anahita, which was shuttered for capital upgrades during the first quarter of fiscal 2026. The reopened property achieved 64.1 percent occupancy and an EBITDA margin of 23.8 percent, pulling high-spending leisure travelers back to the east coast.

Sister property Shangri-La Le Touessrok lifted revenue per available room by 6.0 percent on stronger bookings. Occupancy climbed to 69.4 percent from 66.1 percent, fueling a 7.2 percent revenue increase and a 12.0 percent advance in EBITDA, as premium international travelers returned to Mauritius in greater numbers.

Strong cash flows pay down debt

Operational improvements turned cash generation around, generating MUR327.86 million ($6.93 million) from operations compared with an outflow of MUR69.89 million ($1.48 million) last year. That helped fund MUR315.2 million ($6.66 million) in financing outflows, which included MUR246 million ($5.2 million) directed straight into debt service.

Cash reserves closed the quarter at MUR407.88 million ($8.62 million), providing management with ample breathing room. Controlled by Mauritian conglomerate CIEL Ltd., which holds a 50.12 percent stake, Riveo also controls the leasehold of Île aux Cerfs, anchoring its status among the nation’s premier hospitality owners.

Net debt fell by MUR218 million ($4.61 million) to MUR4.99 billion ($105.56 million) between June and September 2026. That trimmed the gearing ratio to 42.4 percent from 43.1 percent, leaving total assets at MUR15.19 billion ($321.08 million) and shareholders’ equity at MUR5.84 billion ($123.5 million).