Elegant Hotels Group PLC Results of AGM and Trading Update (0624Y)
February 28 2017 - 4:52AM
UK Regulatory
TIDMEHG
RNS Number : 0624Y
Elegant Hotels Group PLC
28 February 2017
28 February 2017
This announcement contains inside information
Elegant Hotels Group plc
Results of Annual General Meeting and Trading Update
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
all resolutions put to shareholders at the Company's Annual General
Meeting held this morning were duly passed.
Trading Update
The Group can confirm that bookings since the beginning of the
financial year have been in line with expectations, and that it
remains firmly committed to its expansion strategy in both Barbados
and the wider Caribbean islands.
For further information:
Elegant Hotels Group plc
Sunil Chatrani, Chief Executive
Officer
Jeff Singleton, Chief Financial
Officer +1 246 432 6414
Zeus Capital Limited
Dan Bate / Andrew Jones (NOMAD) +44 (0) 203 829
John Goold (Broker) 5000
Powerscourt
Rob Greening / Lisa Kavanagh +44 (0) 207 250
Email: eleganthotels@powerscourt-group.com 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/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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