Board Change

26 October 2015

Elegant Hotels Group plc("Elegant Hotels" or the "Company")

Board Change

The Board of Elegant Hotels, the owner and operator of five upscale freehold hotels and a beachfront restaurant on the island of Barbados, is pleased to announce that David Adams has been appointed as a non-executive director of the Company with effect from today.

David brings a wealth of experience as a public company director to the Elegant Hotels Board, having had a career of over 30 years in retail and consumer-facing businesses. His executive career covered financial and general management roles in public and private businesses, including CFO and deputy CEO at House of Fraser plc and Executive Chairman at Jessops plc. He is currently Chairman of Conviviality plc, senior independent director and Chairman of the Audit Committee at Halfords plc, senior independent director and Chairman of the Audit Committee at Hornby plc, and non-executive director and Chairman of the Audit Committee at Fevertree Drinks plc. Further details relating to David's current and previous roles are set out at the bottom of this announcement.

Following David's appointment, Steve Baldwin, currently a non-executive director, will become senior independent director and will remain as Chairman of the Company's Audit Committee. On joining the Company, David will be appointed as Chairman of the Remuneration Committee.

Simon Sherwood, Chairman of Elegant Hotels, commented: "We are delighted that David has agreed to join the Board of Elegant Hotels. His considerable experience across a variety of consumer-facing businesses will be invaluable as we continue to establish ourselves as a listed company and pursue our long-term expansion plans."

The information on David Adams required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies is included at the end of this announcement.

For further information:

NOTES TO EDITORS:

Elegant Hotels owns and operates five luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio comprises 483 rooms, which represents almost 25% of Barbados' quality leisure tourist room stock. Four of the five Group hotels are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 20 acres and an aggregate beachfront of 2,300 feet. The value attributed to Elegant's portfolio as at 15 April 2015 was $235.5 million.

The Group has a strong market presence and is a profitable, cash generative and financially stable business that has enjoyed continuous growth in both revenue and EBITDA over the last three financial years. In the year to 30 September 2014, it achieved revenues of $57.6 million and EBITDA before non-recurring items of $19.7 million.

The Group's shares were admitted to trading on the London Stock Exchange's AIM in May 2015. Its objective now is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados and further into the Caribbean.

Together, the Group's five hotels - Colony Club, Tamarind, The House, Crystal Cove, and Turtle Beach - offer styles encompassing classic and contemporary, family-friendly and adults-only offerings:

Investor website: http://www.eleganthotelsgroup.com/ 

Commercial website: http://www.eleganthotels.com/

Information on David Adams required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies:

David Alexander Robertson Adams, aged 60, is a currently a director of the following companies:

Current

In addition, David has held the following directorships in the past five years:

Past

Notes

1. On 16 April 2008, David Adams was appointed as a director of WOC Realisations Limited (then named Whittards of Chelsea Plc). On 6 November 2009, WOC Realisations Limited entered a creditors' voluntary liquidation, which is ongoing. David Adams has not been the subject of public criticism in connection with the creditors' voluntary liquidation.

2. On 21 August 2012, David Adams was appointed as a director of Blane Leisure Limited, a subsidiary of JJB Sports Plc. On 8 October 2012 Blane Leisure Limited was put into administration, which is ongoing. David Adams has not been the subject of public criticism in connection with the administration.

3. On 1 June 2012, David Adams was appointed as a director of HMV Group Plc. On 15 January 2013 HMV Group Plc was put into administration, which is ongoing. David Adams has not been the subject of public criticism in connection with the administration.

4. On 29 January 2010, David Adams was appointed as a director of JJB Sports Plc. On 1 October 2012 JJB Sports Plc was put into administration, which is ongoing. David Adams has not been the subject of public criticism in connection with the administration.

5. On 1 September 2010, David Adams was appointed as a director of Alexon Group Plc. On 29 September 2011 Alexon Group was put into administration, which is ongoing. David Adams has not been the subject of public criticism in connection with the administration.

6. On 16 April 2008, David Adams was appointed as a director of BCC Realisations Limited and the company was dissolved on 12 February 2014. On 6 November 2009 the Company entered a creditor's voluntary liquidation. David Adams has not been the subject of public criticism in connection with the creditor's voluntary liquidation.

7. On 3 May 2007, David Adams was appointed as a director of Jessops Plc. Jessops Plc entered a members' voluntary liquidation on 21 January 2010 and was dissolved on 25 April 2011. David Adams has not been the subject of public criticism in connection with the members' voluntary liquidation.

8. On 27 July 2009, David Adams was appointed as a director of JGLCC Camera Company Limited. JGLCC Camera Company Limited entered a creditors' voluntary liquidation on 11 December 2013. David Adams has not been the subject of public criticism in connection with the creditors' voluntary liquidation.

9. On 28 May 2010, David Adams was appointed as a director of Mackinnon's of Dyce Limited, a subsidiary of Snap Equity Limited. A winding up order was made against the company, and liquidators were appointed on 22 February 2011. The liquidation remains ongoing. David Adams has not been the subject of public criticism in connection with the liquidation.

10. On 21 August 2012, David Adams was appointed as a director of Mayfind Limited, a subsidiary of JJB Sports Plc. Mayfind Limited entered a creditors' voluntary liquidation on 20 March 2013, which is ongoing. David Adams has not been the subject of public criticism in connection with the creditors' voluntary liquidation.

11. On 28 September 2009, David Adams was appointed as a director of Snap Equity Limited. He resigned on 29 February 2012. On 24 May 2013 Snap Equity Limited entered a creditors' voluntary liquidation, which is ongoing. David Adams has not been the subject of public criticism in connection with the creditors' voluntary liquidation.

There is no further information on David Adams required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.