Elegant in seventh heaven

The Elegant Hotels Group will officially add a seventh hotel to its properties in Barbados in another month.

The group is in the process of wrapping up a deal to acquire the four-star 35-room Treasure Beach Hotel in Paynes Bay, St James.

Chief Executive Officer of Elegant Sunil Chatrani said in a statement the agreement was signed last Friday and was expected to be finalized in May.

Chatrani also revealed major plans for the west coast property once the deal is completed.

“When completed, this sale will see us heavily investing in renovations at Treasure Beach similar to what we did at Waves, to bring the resort up to the Elegant standard. We see enormous potential for this property and are excited at the prospect of creating a resort that will complement our existing portfolio and meet the exacting standards that our guests have come to expect from Elegant Hotels,” he said in the statement.

Chatrani added that the acquisition was in keeping with the group’s expansion strategy across the Caribbean.

“Following our successful launch of Waves last August, and on the heels of our recent management agreement with Hodges Bay Resort & Spa in Antigua, set to open in October 2017, as well as a sales and marketing agreement with The Landings Resort & Spa in St Lucia, this newest agreement shows that Elegant Hotels is more committed than ever to executing its long-term expansion strategy.”

Elegant Hotels went public in May 2015 and presently operates six upscale properties here – The House, Colony Club, Tamarind, Turtle Beach, Crystal Cove and Waves Hotel & Spa, as well as the beachfront Daphne’s Restaurant.

Source: (PR)

4 Responses to Elegant in seventh heaven

  1. Mark Adamson April 4, 2017 at 2:35 am

    I was wondering many years ago why Elegant Hotels would not have acquired it. Treasure Beach Hotel has been so close in proximity to Tamarind Cove Hotel and its architecture and charm so often appeared like a future part of the Elegant Hotel Grouping.

    I am not surprised at the acquisition.

    And, well, so much for some people, in Barbados, who want to compare Barbados politically economically and financially with Greece.

    Surely, some foreign investors do not share this view, with their continued investment in Barbados.

    Reply
  2. jrsmith April 4, 2017 at 4:50 am

    Because Barbados is suffering from bad political management , the question there is still investment in the tourist industry but, even if their is an increase in visitors , this makes no economic difference to barbados……………………………………………..

    Reply
  3. Tony Webster April 4, 2017 at 6:29 am

    These folks, if so minded, could run this country, (together with a few other successful men and women who just doan want to get hands dirty) and you would not recognise this place five years hence. Or they cud just buy out evahthing, and sell us some shares. I certainly would buy…if I had de cash.

    Ossie Moore spoke to me in a dream last nite, and dis is what he said:
    “With evahthing in land, and “bricks ‘n’mortar” now selling “all-a-penny”….NOW is a good time….TO BUY!! NOW…is a GOOD TIME….to BORROW from our banks.

    Go to the front of the class, Mr. Chatrani…and stay there!

    Reply
  4. Jerry April 4, 2017 at 7:56 am

    In response to jrsmith comment. Remember The Mighty Sparrow song .Working for the Yankee Dollar written 50 years ago.without Tourism Barbados is doomed regardless of which Government is in power. Barbados cannot import anything e.g. Medicine, Food, Gasoline without first earning foreign exchange. Congratulations to Elegant Hotels ( a public company which Bajans can invest in ) who continues to attract Visitors to our beautiful Country and continued success in all your endeavors.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *