Elegant Hotels Group PLC Directorate Change (0735N)
January 15 2019 - 2:01AM
UK Regulatory
TIDMEHG
RNS Number : 0735N
Elegant Hotels Group PLC
15 January 2019
15 January 2019
This announcement contains inside information
Elegant Hotels Group plc
Directorate Change
Elegant Hotels Group plc ("Elegant Hotels" or the "Company"),
the owner and operator of seven upscale freehold hotels and a
beachfront restaurant on the island of Barbados, announces that
Jeff Singleton, Chief Financial Officer, has informed the Board of
his intention to leave the Company. Jeff will remain with the
Company for a period of time to ensure a smooth transition with his
successor.
As a result, Elegant Hotels has initiated a search for a new CFO
and an appointment will be made in due course.
Commenting on the announcement, Simon Sherwood, Chairman of
Elegant Hotels, said: "Jeff has done a great job for Elegant Hotels
since joining us in 2016. His technical expertise and sector
knowledge have been invaluable to us during that time, and he has
played a key role both in returning the Company to financial
stability and in helping to execute the recent acquisitions and
management contracts. We wish him well for the future as he returns
to the UK."
For further information
Elegant Hotels Group plc
Sunil Chatrani, Chief Executive Officer
Jeff Singleton, Chief Financial Officer +1 246 432 6500
Liberum Capital Limited (NOMAD and Joint
Broker)
Clayton Bush / Chris Clarke / William Hall +44 (0) 203 100 2222
Zeus Capital Limited (Joint Broker)
John Goold / Dominic King +44 (0) 203 829 5000
Powerscourt
Rob Greening / Lisa Kavanagh / Isabelle
Saber
Email: eleganthotels@powerscourt-group.com +44 (0) 207 250 1446
NOTES TO EDITORS:
Elegant Hotels 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.
Investor website: http://www.eleganthotelsgroup.com
Consumer website: http://www.eleganthotels.com
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END
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