Elegant Hotels Group plc (LON:EHG), the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, issued the following trading update in relation to the year ended 30 September 2018.
Current trading and outlook
Trading since the interim results in May has remained in line with market expectations. In addition, bookings for the year ended 30 September 2019 are currently tracking ahead of the same period last year.
Barbados tax changes
The Group notes the recent changes to taxation implemented by the newly elected Government of Barbados and, in line with its initial assessment, can confirm that it has not seen a material resulting impact on the results for the year ended 30 September 2018. Moreover, while the Board continues to monitor the matter closely, at this point it does not expect these changes to materially affect expectations for the year ended 30 September 2019. More generally, the Group welcomes the Government’s plans to invest both in the Barbados tourism industry and in the wider infrastructure of the island.
Notice of results
The Company intends to announce its full year results for the year ended 30 September 2018 on Tuesday, 15 January 2019.