Elegant Hotels Group Plc Announces Second Dividend for the Year Ended September 30, 2016; Provides Revenue Guidance for the Year Ended September 30, 2016; Announces Agreement to Bring New Hotel in Antigua
The company provided revenue guidance for the year ended September 30, 2016. The Board believes it is prudent to have a cautious outlook, with Group revenue for the current year currently expected to be broadly flat in comparison with the fiscal year 2015.
The company also announced that it has reached an agreement in principle to bring a 123-room luxury hotel in Antigua into Elegant Hotels' portfolio under a management contract. The hotel is currently under construction and is expected to open its doors in mid to late 2017. The 193 rooms that will be added to Elegant Hotels' portfolio as a result of the Waves acquisition and the New Management Contract represent a 40% increase since the company's admission to AIM in May 2015.