Elegant Hotels Group looks to add more hotels in Barbados

Elegant Hotels Group, the company that already owns and operates about a quarter of Barbados’ hotel accommodation, is reportedly planning to add more properties there before turning its attention to St Lucia and others.

Chairman Simon Sherwood told local paper Nation News that having raised £63 million and achieved a listing on AIM—the London Stock Exchange’s “market for small growing companies”—three months ago, Elegant is looking to “add a hotel every 12 to 18 months” to its portfolio.

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His announcement, in an interview released online, comes as the group which owns Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach hotels, and Daphne’s Restaurant, is reporting “a solid performance,” highlighted by US$36.4 million in revenue (a 7.6 percent increase), increased occupancy, and US$16.3 million in earnings before interest, tax, depreciation, and amortization (an 11.7 percent increase). This was for the six-month period that ended March 31.