Recommend Cash Offer
Elegant Hotels Group plc, the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, would like to draw shareholders’ attention to the announcement made by Marriott International Inc.
In relation to a recommended cash offer by its wholly-owned indirect subsidiary, International Hotel Licensing Company S.à r.l, for Elegant, to be effected by means of a Court sanction scheme of arrangement under Part 26 of the Companies Act 2006, released at 07:00 a.m. on 18 October 2019 under RNS Number 3120Q.
Notes to Editors:
Elegant owns and operates seven luxury freehold hotels and a beachfront restaurant, Daphne’s, on the island of Barbados. The Group’s portfolio currently 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.
Together, the Group’s seven existing hotels – Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach, Waves Hotel & Spa and Treasure Beach – offer styles encompassing classic and contemporary, family-friendly and adults-only.
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