1 Apr 2016 07:00
Elegant Hotels Group plc
("Elegant Hotels" or the "Group")
Appointment of Chief Financial Officer
1 April 2016: The Board of Elegant Hotels, the owner and operator of six upscale freehold hotels and a beachfront restaurant on the island of Barbados, is pleased to announce that Richard Jones has been appointed as Chief Financial Officer and executive director of the Group with immediate effect.
Richard was previously the Chief Financial Officer of Cineworld Group plc, where he played a major role in the group's growth from start up, through 11 years of private equity ownership, an IPO and four years as a listed group, to becoming the leading cinema operator in the UK. Since leaving Cineworld, Richard has been acting as a corporate adviser on a range of strategic, transactional and operational projects. Richard spent his early career in professional practice, having qualified as a chartered accountant with Touche Ross, which is now part of Deloitte.
Simon Sherwood, Chairman of Elegant Hotels, commented: "We are delighted that Richard has agreed to join Elegant Hotels at this exciting phase in the Group's development. His considerable UK plc experience, financial expertise and in-depth knowledge of the leisure sector will be invaluable as we continue to pursue our long-term expansion plans."
The information on Richard required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies is as follows:
Richard David Jones, aged 54, is currently a director of the following company:
Nimbus Technology Limited
In addition, Richard has held the following directorships in the past five years:
Cineworld Group plcCineworld Exhibition LimitedClassic Cinemas LimitedCineworld Elite Picture Theatre (Nottingham) LimitedCineworld Holdings LimitedCineworld Cinemas Holdings LimitedAugustus 2 LimitedAugustus 1 LimitedCineworld South East Cinemas LimitedGallery Holdings LimitedGallery Cinemas LimitedComputicket LimitedCineworld Cinemas LimitedCineworld Cinema Properties LimitedSlough Movie Centre LimitedCineworld Estates LimitedCineworld Finance LimitedCine-UK Limited
Digital Cinema Media Limited
Adelphi-Carlton Limited
For further information:
Elegant Hotels Group plc | +1 246 432 6500 |
Sunil Chatrani, Chief Executive Officer
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Zeus Capital Limited (NOMAD and Broker) | +44 (0) 203 829 5000 |
Dan Bate / Nicholas HowAdam Pollock / John Goold | |
Powerscourt Rob Greening / Lisa Kavanagh Email: eleganthotels@powerscourt-group.com | +44 (0) 207 250 1446
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NOTES TO EDITORS:
Elegant Hotels owns and operates six luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio comprises 553 rooms, which represents around 29% of Barbados' quality leisure tourist room stock. Five of the six Group hotels, including its recent acquisition Waves, are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 22 acres and an aggregate beachfront of 2,500 feet. The Group has a strong market presence and is a profitable, cash generative and financially stable business that has enjoyed continuous growth in both revenue and EBITDA over the last three financial years. In the year to 30 September 2015, it achieved revenues of $60.1 million and EBITDA before non-recurring items of $22.2 million.
The Group's shares were admitted to trading on the London Stock Exchange's AIM in May 2015. Its objective now is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados and further into the Caribbean.
Together, the Group's six hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach and Waves - offer styles encompassing classic and contemporary, family-friendly and adults-only offerings:
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/