12 Oct 2017 07:00
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
12 October 2017
Elegant Hotels Group plc
Trading Update and Notice of Results
Elegant Hotels Group plc ("Elegant Hotels", the "Company" or the "Group"), the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, issues the following trading update in relation to the year ended 30 September 2017.
Trading since the interim results in June has remained in line with market expectations. Whilst the Group is only 12 days into its new financial year, it is pleased to report that bookings are currently tracking ahead of the same period last year.
The Group also confirms that Treasure Beach hotel is on track to reopen for business at the start of the peak tourist season. Treasure Beach is a 4-star, 35-room hotel in Barbados which the Group acquired in May 2017. The project of refurbishing, repositioning and ultimately repricing the property is progressing to plan.
The Company intends to announce its full year results for the year ended 30 September 2017 on Tuesday 9 January 2018.
For further information:
Elegant Hotels Group plc Sunil Chatrani, Chief Executive Officer Jeff Singleton, Chief Financial Officer
| +1 246 432 6414 |
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 |
Powerscourt Rob Greening / Lisa Kavanagh 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 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. 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.
Investor website: http://www.eleganthotelsgroup.com/
Commercial website: http://www.eleganthotels.com/
EHG.L (EHG)