19 Feb 2018 12:29
19 February 2018
Elegant Hotels Group plc
("Elegant Hotels" or the "Company")
Results of Annual General Meeting
Elegant Hotels Group plc, the owner and operator of seven 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.
For further information
Elegant Hotels Group plc Sunil Chatrani, Chief Executive Officer Jeff Singleton, Chief Financial Officer
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+1 246 432 6500 |
Zeus Capital Limited (NOMAD and Joint Broker) Dan Bate / Andrew Jones / John Goold |
+44 (0) 203 829 5000 |
Liberum Capital Limited (Joint Broker) Clayton Bush / Chris Clarke / Dominik Götzenberger |
+44 (0) 203 100 2222
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Powerscourt Rob Greening / Lisa Kavanagh / Isabelle Saber Email: eleganthotels@powerscourt-group.com
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+44 (0) 207 250 1446
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NOTES TO EDITORS:
Elegant Hotels owns and operates seven luxury freehold hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio currently comprises 588 rooms, making it twice as large (by room number) as the closest competitor in the Barbados luxury hotel room market. Six of the seven 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 23 acres and an aggregate beachfront of 2,600 feet.
In the year ended 30 September 2017, the Group achieved revenue of $59.9 million and EBITDA before non-recurring items of $18.1 million.
Together, the Group's seven existing hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel & Spa and Treasure Beach - offer styles encompassing classic and contemporary, family-friendly and adults-only. The Group also has a management contract for Hodges Bay Resort in Antigua and a sales and marketing contract for The Landings Resort & Spa in St. Lucia.
The Group's strategy is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados as well as further into the Caribbean.
Investor website: http://www.eleganthotelsgroup.com
Commercial website: http://www.eleganthotels.com