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Elegant Hotels Group Plc

Elegant Hotels Group plc Non-Executive Chairman purchases more shares in company

Elegant Hotels Group plc (LON: EHG) announced today that it was notified on 12 July 2019 that, on that day, Simon Sherwood, Non-Executive Chairman of the Company, purchased a total of 57,224 ordinary shares of 1 pence in the capital of the Company at a price of 69.9 pence per Ordinary Share. Following the purchase, Mr Sherwood is beneficially interested in 1,929,252 Ordinary Shares, representing approximately 2.17 per cent. of the Company’s issued share capital.

Elegant Hotels Group 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 2018, the Group reported revenue of $62.9 million and EBITDA before non-recurring items of $19.7 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’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.