1 Mar 2017 07:00
This announcement contains inside information
Elegant Hotels Group plc
Board appointment of Chief Financial Officer
1 March 2017: The Board of Elegant Hotels Group plc ("Elegant Hotels" or the "Group"), the owner and operator of six upscale freehold hotels and a beachfront restaurant on the island of Barbados, is pleased to announce that Jeff Singleton has been appointed to the Elegant Hotels Board with immediate effect. Jeff was appointed as the Group's Interim Chief Financial Officer on 16 December 2016 and will now take over the role on a permanent basis.
As detailed at the time of his interim appointment, Jeff joins the Group having until recently been Group Financial Controller and Corporate Finance Director of Rocco Forte Hotels. Previous roles have included Finance Director of the De Vere Hotel Group, Head of External Reporting at Cable & Wireless Group, and Project Manager for the International Accounting Standards Board. A Chartered Accountant, Jeffrey started his career at KPMG in Australia before moving to Deloitte, for whom he worked in both Melbourne and London.
Simon Sherwood, Chairman of Elegant Hotels, commented: "We are delighted that Jeff has agreed to join Elegant Hotels on a permanent basis, following a highly impressive two-month period in the interim CFO role. Jeff brings with him extensive experience of the luxury hotel sector as well as a high level of financial expertise, and has already proven himself an invaluable member of the team. I have no doubt that he will continue to make a significant and positive contribution to the Group as it continues to carry out its long term strategy."
The information on Jeffrey Singleton required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies is as follows:
Jeffrey Philip Singleton, aged 42, is currently a director of the following company:
Singlefox Limited
Jeffrey has not held any other directorships in the past five years
For further information:
Elegant Hotels Group plc | +1 246 432 6500 |
Sunil Chatrani, Chief Executive Officer
| |
Zeus Capital Limited (NOMAD and Broker) | +44 (0) 203 829 5000 |
Dan Bate / Andrew JonesJohn Goold | |
Powerscourt Rob Greening / Lisa Kavanagh Email: eleganthotels@powerscourt-group.com | +44 (0) 207 250 1446
|
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, making it twice as large (by room number) as the closest competitor in the Barbados luxury hotel room market. Five of the six properties 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. In the year ended 30 September 2016, the Group achieved revenues of $57.0 million and EBITDA before non-recurring items of $19.6 million.
Together, the Group's six existing hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa - offer styles encompassing classic and contemporary, family-friendly and adults-only.
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, as exemplified by its recent signing of a management contract with Hodges Bay Resort & Spa in Antigua.
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/