Leading Mauritius hotel group posts losses of Rs323million

The Lux Island Resorts Group has posted losses of Rs 323 million for the quarter ended 30 September, 2021 lower by Rs 42 million as compared to the same period last year.

Total revenue reached Rs 681m compared to Rs 329m during the corresponding quarter last year.

Its hotels posted a turnover of Rs 148million and operating losses of Rs 261million for the quarter. LUX* South Ari Atoll in the Maldives performed quite well in the current environment with a turnover of Rs 372million and an operating profit of Rs 34million.

Turnover of LUX* Saint Gilles in Reunion Island amounted to Rs 161million and an operating loss of Rs 9million for the quarter.

The development of LUX* Grand Baie in Mauritius, which began in 2018-2019, was stopped for the second time between March and April 2021.

With the support of its financing partners and the sale of villas and residences, it successfully completed the project’s financing.

The hotel is now scheduled to open in December 2021. The Board said it is confident that this new hotel, will contribute significantly to the Group’s profitability in the coming years.

In the event there are no changes to international travel norms and availability of air seats, the group said it should post positive results for the quarter ending December 31.