Elegant Hotels announces flotation
Luxury hotel operator Elegant Hotels is to float on London’s Alternative Investment Market to raise £63 million to fund its expansion in the Caribbean.
The company, which is being advised by investment bank Zeus Capital, said it expects to achieve a market capitalization of £89 million once shares begin trading on May 26.
It said some of the cash raised would be to exit existing shareholders, to reduce debt and also to provide working capital to support its growth strategy.
Its aim is to become a leading luxury hotel operator in Barbados where it owns and operates five beachfront hotels and a restaurant.
"Further expansion is planned for the coming years, with new sites targeted both in Barbados and further into the Caribbean," it said.
Chief executive Sunil Chatrani added: "We are delighted with our flotation, which will be the perfect platform for Elegant Hotels to pursue our longer term expansion plans in the Caribbean.
"Over the last five years we have grown and invested in our hotels and driven profitability with revenues up 59% and EBITDA up 225%. This has enabled us to become a leading luxury hotel operator in Barbados, with high quality assets, strong brand positioning and a clear growth strategy.
"We look forward to being a listed company focusing on delivering sustainable returns and generating value for our shareholders."
Dan Bate, corporate finance director at Zeus Capital. said: "We are delighted to have supported Elegant Hotels’ highly experienced management team on its successful AIM float and £63m fundraising.
"We believe the company, with its portfolio of five luxury hotels and a restaurant on Barbados, represents an interesting and differentiated investment opportunity, combining a strong growth strategy and an attractive seven per cent. yield.
"It is extremely pleasing therefore that the Company’s flotation has secured the support of some of the highest quality institutional investors in the City."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season