– BARBADOS, St. James – Elegant Hotels Group plc (AIM:EHG), the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, is pleased to announce that Luke Johnson has been appointed as a non-executive director of the Group with immediate effect.
Luke Johnson is the Chairman of private equity house Risk Capital Partners LLP, and his extensive range of other public and private company roles include the chairmanships of Patisserie Holdings PLC, The Brighton Pier Group PLC, Arden Partners PLC, Bread Ltd, Neilson Active Holidays Ltd, The Draft House and Small Batch Coffee. Previous chairmanships have included Channel 4 Television Corporation, PizzaExpress, and Giraffe Restaurants.
Simon Sherwood, Chairman of Elegant Hotels, commented: “We are delighted to be welcoming someone of Luke’s calibre and experience to the Board of Elegant Hotels. His wealth of leisure industry knowledge and his outstanding track record of helping companies to achieve their ambitious growth plans will be hugely additive to the Group as it continues to carry out its expansion programme in Barbados and the wider Caribbean. We see significant potential for continuing to enhance the food and beverage offering within our portfolio, and Luke’s expertise in that sector will therefore be particularly valuable.”
Elegant Hotels owns and operates seven luxury hotels and a beachfront restaurant, Daphne’s, on the island of Barbados. The Group’s portfolio 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 2016, the Group achieved revenues of $57.0 million and EBITDA before non-recurring items of $19.6 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 shares were admitted to trading on the London Stock Exchange’s AIM in May 2015. Its objective since then has been to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados and further into the Caribbean. In 2016 it signed a management contract with its first ever property outside Barbados, Hodges Bay Resort in Antigua, which was followed in 2017 by a marketing and sales services agreement with The Landings Resort and Spa in St. Lucia.
For more information : http://www.eleganthotels.com
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