24 Dec 2015 07:00
24 December 2015
Elegant Hotels Group plc
("Elegant Hotels" or the "Company")
Posting of Report and Accounts and Notice of Annual General Meeting
The Board of Elegant Hotels, the owner and operator of five upscale freehold hotels and a beachfront restaurant on the island of Barbados, announces that copies of its Annual Report and Financial Statements for the period ending 30 September 2015, together with the Notice of Annual General Meeting and Form of Proxy, will be posted to shareholders today.
Electronic copies of the Annual Report and Financial Statements, the Notice of Annual General Meeting and Form of Proxy are available to view on the Company's website, www.eleganthotelsgroup.com.
The Annual General Meeting will be held at the offices of Macfarlanes LLP at 20 Cursitor Street, London EC4A 1LT on 25 January 2016 at 9:00 a.m.
For further information:
Elegant Hotels Group plc Sunil Chatrani, Chief Executive Officer | +1 246 432 6500 |
Zeus Capital Limited (NOMAD and Broker) | |
Dan Bate / Nicholas How Adam Pollock / John Goold | +44 (0) 203 829 5000
|
Powerscourt Rob Greening / Lisa Kavanagh Email: eleganthotels@powerscourt-group.com | +44 (0) 207 250 1446
|
NOTES TO EDITORS:
Elegant Hotels owns and operates five luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio comprises 483 rooms, which represents almost 25% of Barbados' quality leisure tourist room stock. Four of the five Group hotels 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 20 acres and an aggregate beachfront of 2,300 feet. The value attributed to Elegant's portfolio as at 15 April 2015 was $235.5 million.
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 five hotels - Colony Club, Tamarind, The House, Crystal Cove, and Turtle Beach - offer styles encompassing classic and contemporary, family-friendly and adults-only offerings:
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/