Mauritius' Lux Island Resorts looks to expand Asian footprint

What does a hotel company do when profits are growing steadily? Mauritius-based hotels group Lux Island Resorts wants to expand its Asian presence.

Following a 6.4-percent rise in pre-tax profit for the full-year ending in June, Lux Island Resorts CEO Paul Jones said that the company would look to have between 20 and 25 hotels in Asia within 10 years. Currently, beyond Mauritius, the company has properties in Maldives, China, the UAE, Turkey and Vietnam.  

Pre-tax profit increased to 480.93 million rupees ($13.70 million) during the year to June from 451.59 million rupees in the previous period. (An 11-percent increase in visitor arrivals helped.) Revenue, meanwhile improved to 5.15 billion rupees from 4.65 billion rupees despite the disruption of renovation works on one of its units in Maldives.


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The company also recently completed a notable sale. In late August, Lux’s subsidiary company Néréide Limited signed a deal with Mauritius-listed Mara Delta Property Holdings for the sale of the Tamassa Resort (pictured) for $40 million. The sale is subject to certain conditions precedent, including approval from the relevant Regulatory Authorities. The property will be leased back to Néréide Limited for an initial period of ten years, and the lease will be renewable at its option. 


Suggested Articles

The Peppers Airlie Beach resort in north Queensland is up for sale via an International expressions of interest campaign.

Ahead of the Mediterranean Resort & Hotel Real Estate Forum, Atrium Hotels' Athinagoras Konstantinidis discusses hotel opportunities and challenges.

The Radisson Red Miraflores has 100 guestrooms, a games studio and a fitness center.