25 Jan 2016 11:19
Â
Â
25 January 2016
Â
Elegant Hotels Group plc
Â
Results of Annual General Meeting
Â
Elegant Hotels Group plc (the "Company" or the "Group"), the owner and operator of five upscale freehold hotels and a beachfront restaurant on the island of Barbados, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting held this morning were duly passed.
Â
Trading Update
Â
The Company is pleased to report that bookings over the key winter months were in line with expectations and that the management team is making good progress on its near-term acquisition targets.
Â
Â
For further information:
|
Â
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 $60.1million 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/