Elegant Hotels Group Plc (LON:EHG) CEO Sunil Chatrani talks to DirectorsTalk about it’s unaudited results for the six months ended 31 March 2017. Sunil explains what he meant by ‘rebased market’, what factors have impacted the performance during the period, actions taken to address the impact, plans for Treasure Beach, how the contracts for Antigua and St Lucia are progressing, the expansion strategy – both in Barbados and further afield into the wider Caribbean market and the improvements made along with new dining concepts that have been introduced across the hotels.
Zeus Capital head of research Mike Allen also caught up with DirectorsTalk to discuss Elegant Hotels Group Plc. Mike gives us an overview of the half year interim results, his thoughts on the company outlook, Zeus forecast and Mikes view on the valuation.
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.
