Elegant Hotels Group PLC Update on Acquisition of Treasure Beach Hotel (3959E)
08 May 2017 - 4:00PM
UK Regulatory
TIDMEHG
RNS Number : 3959E
Elegant Hotels Group PLC
08 May 2017
This announcement contains inside information
Elegant Hotels Group plc
("Elegant Hotels" or the "Company")
Update on Acquisition of Treasure Beach Hotel
8 May 2017: The Board of Elegant Hotels announces that, further
to the statement dated 3 April 2017 relating to the acquisition of
Treasure Beach Hotel in Barbados, all conditions for completion
have now been met and the transaction has therefore formally
completed.
For further information:
Elegant Hotels Group plc +1-246-432-6500
Sunil Chatrani, Chief Executive
Officer
Jeff Singleton, Chief Financial
Officer
Zeus Capital Limited +44-(0)-203-829-5000
Dan Bate / Andrew Jones
(NOMAD)
John Goold (Broker)
Powerscourt +44-(0)-207-250-1446
Rob Greening / Lisa Kavanagh eleganthotels@powerscourt-group.com
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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