Elegant Hotels on target for Treasure Beach reopening
(ShareCast News) - Barbados-focused hotel operator Elegant Hotels announced on Thursday that it was on track to reopen its four-star, 35-room Treasure Beach Hotel in by the end of November.
Treasure Beach, which Elegant acquired in May for $10.5m, inclusive of renovation costs, had been closed since the end of July when refurbishment and rebranding began.
Trading since the interim results in June was has "remained in line with market expectations".
Although only 12 days into its financial year, the AIM-listed company has seen bookings tracking ahead of the same period a year earlier across all of its seven of its hotels and its beachfront restaurant on the Caribbean island.
The company said it intended to post its full-year results for the year ended 30 September on 9 January 2018.
As of 0930 BST, shares had risen 8.16% to 86.8p.