Elegant Hotels Group (LON: EHG) Interim results for the 6 months ended 31st March 2019 presented by CEO Sunil Chatrani and CFO Jeff Singleton.
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 achieved revenue of $63 million and EBITDA before non-recurring items of $19.7 million.
Together, the Group’s seven existing hotels – Colony Club, Treasure Beach, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa – 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.