viewElegant Hotels Group PLC

Elegant Hotels says bookings for next year are strong after mixed 2018

The AIM-listed group said it welcomed the new Barbados government's plans to invest both in the island's tourism industry and in its wider infrastructure

Elegant’s strong second half performance shows business is picking up after a tough start to the year

Barbados-based Elegant Hotels Group PLC (LON:EHG) said trading over the summer months had been in line with its expectations and that bookings for the year ahead were stronger than the prior year.

The owner and operator of seven upscale hotels and a beachfront restaurant on the island of Barbados also said it does not expect recent changes introduced by the new Barbados government to have a material impact on results for the year to the end of September 2018 or 2019.

READ: Elegant Hotels ready to grow again as sterling rallies

The island is a favoured destination for UK tourists due to its climate, beaches, security and familiarity and relies on Britain for a goodish chunk of its visitors. However, sterling's volatile performance during the year has been bad news for hoteliers and other travel businesses.

The fall in the pound’s value made it that much more expensive for travellers from Britain but Elegant’s strong second-half performance shows business is picking up. 

The AIM-listed group also said that it welcomes the government's plans to invest both in the Barbados tourism industry and in the wider infrastructure of the island.

Shares in the company were 3.6% up at 68p in early trade.

Quick facts: Elegant Hotels Group PLC

Price: 109.75 GBX

Market: LSE
Market Cap: £97.48 m

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