Elegant Hotels Group plc (LON:EHG), the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, has today announced the appointment of Liberum Capital Limited (“Liberum”) as its joint corporate broker with immediate effect.
Liberum will act alongside Zeus Capital Limited, which has advised the Group as Nominated Adviser and broker since its IPO on the London Stock Exchange’s AIM in May 2015.
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 as well as 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.
