Elegant Hotels Group Plc (LON:EHG) CEO Sunil Chatrani talks to DirectorsTalk about the Waves acquisition, the criteria used in the selection process, it’s strengths, market share, more detail on refurbished, repositioned and re-priced and future acquisition opportunities for the group.
Elegant Hotels Group Plc owns and operates five luxury hotels and a beachfront restaurant, Daphne’s, on the island of Barbados. The Group’s portfolio comprises 483 rooms, which represents almost 25% of Barbados’ quality leisure tourist room stock. Four of the five Group hotels 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 20 acres and an aggregate beachfront of 2,300 feet. The value attributed to Elegant’s portfolio as at 15 April 2015 was $235.5 million.
The Group has a strong market presence and is a profitable, cash generative and financially stable business that has enjoyed continuous growth in both revenue and EBITDA over the last three financial years. In the year to 30 September 2015, it achieved revenues of $60.1 million and EBITDA before non-recurring items of $22.2 million.
