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There will be new developments at LUX*, namely on the international level. The hotel group is undergoing a restructuration which will separate the real estate cluster and hotel operation company, Lux Island Resorts (LIR), from its management company, LUX Hospitality Ltd that will from now on be known as The Lux Collective Ltd (TLC).
This decision has been approved during a Board meeting on Monday the 22nd of October 2018 and announced during a press conference at SALT during the same evening, the new hotel managed by the group at Palmar. The Lux Collective will be managed by Paul Jones and will comprise of a portfolio of brands, namely LUX* Resorts & Hotels, Tamassa, SALT, SOCIO, a new urban hotel brand, and Café LUX*, and will also manage the hotels belonging to LIR and other owners. With the aim to gain a better positioning on the Asian market, the head office of The Lux Collective will be based in Singapore as from the 1st January 2019. On the other side, Lux Island Resorts will be under the leadership of Désiré Elliah, who has been the Financial Director of the company since 2003.
Among the main decisions announced yesterday evening, there is the signature of a long-term hotel management agreement of a LUX* branded 5-star hotel at La Baraquette in France, next to the village of Marseillan, overviewing the Mediterranean Sea. The Board also approved the development of a luxury 5-star hotel in Grand-Bay, replacing the existing Merville. The works should be kicking off in May 2019.
Finally, the group also announced its financial results for the quarter July-September 2018. The operational revenues reached Rs 1.2 Bn, representing an increase of 16% compared to the same period last year.