9 April 2015 - LUX Hospitality Ltd today announced the signature of two management contracts on Reunion Island with Hong Kong based group Asian Prosperous Holding Ltd. These new agreements further confirm the group’s decision to increase its portfolio of management contracts worldwide. With these two signatures LUX Hospitality Ltd will manage a new five star property in St Philippe in the south of the island as well as Hotel Le Récif which was previously owned by the group and recently sold to Asian Prosperous Holding Ltd.

Construction works have already begun at the new five star resort at St Phillippe, located in the wild south of Reunion Island in the Indian Ocean. The new LUX* Resort comprises of 82 pool villas and is scheduled to open in 2016. The new management contracts signal the next stage in growth for LUX Hospitality Ltd, following its expansion outside of the Indian Ocean into China in 2014 with the opening of LUX* Tea Horse Road, Lijiang, China. The new contracts will see LUX Hospitality Ltd. continue to manage and market Hotel Le Récif, a creole inspired hotel set within three hectares of tropical gardens close to St Gilles.

CEO Paul Jones comments: “The sale of Hotel Le Récif as well as the signature of the two new management contracts is consistent with the growth strategy of LUX Hospitality, managing resorts and hotels rather than owning the assets, increasing global brand awareness and the exposure of LUX* across markets. We are also keen to contribute to the development of the tourism sector on Reunion Island. Through our partnership with Asian Prosperous Holding Ltd, we are determined to boost this industry on the island”

The Directors at Asian Prosperous Holding Ltd. added: “LUX* Resorts & Hotels are a well known brand. The service offered in all of their hotels is of a very high standard and we are confident Paul Jones and his team will do a fantastic job with our two hotels in Reunion Island.”