Lux Island Resorts Posts 23 Percent Profit Jump

Mauritian hotel group Lux Island Resorts' second-quarter pretax profit rose by nearly 23 percent to MUR327.82 million rupees (USD$9.26 million) on higher tourist arrivals.

The company is benefiting from a growth in a tourism sector that is a key source of hard currency for the Indian Ocean island nation that is expected to attract up to 10 percent more visitors this year.

The luxury hotel group, which also has properties in the Maldives and Reunion, said occupancy rates nudged up to 83 percent, lifting group earnings in the three months to December 31.

Revenue rose to MUR1.54 billion rupees from MUR1.36 billion.

The company said that both occupancy and the average daily rate for the current quarter for its Mauritius properties are ahead of last year.

Performance of its Reunion unit is expected to be similar to last year, while visitor numbers in the Maldives are also on the rise, the company added.