Elegant Hotels Group Plc (LON:EHG) CEO Sunil Chatrani talks to DirectorsTalk about an impressive set of half year results. Sunil explains the drivers behind the increase in profit, talks us through the rationale for acquiring Waves, further acquisition targets, the strategy, to keep driving performance and the competitive advantages the group have over its peers.
Elegant Hotels Group plc (“Elegant Hotels” or the “Company”) is a public limited company incorporated in the United Kingdom. The principal activity of the Company and its subsidiaries (collectively the “Group”) is the ownership and operation of hotels and a restaurant on the island of Barbados. The group has six hotels – Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa – offer styles encompassing classic and contemporary, family-friendly and adults-only and a beachfront restaurant, Daphne’s, on the island of Barbados. The Group’s portfolio comprises 553 rooms, which represents around 29% of Barbados’ quality leisure tourist room stock. Five of the six Group hotels, including the recent acquisition Waves Hotel & Spa, 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 22 acres and an aggregate beachfront of 2,500 feet. In the year ended 30 September 2015, the Group achieved revenues of $60.1 million and EBITDA before non-recurring items of $22.2 million.