Barbados-based Elegant Hotels Group is planning a major expansion in neighbouring Caribbean islands.
Currently the largest hotel group on the island with a 600-room portfolio covering five different properties, Elegant is eyeing up opportunities to double its bedstock in the Caribbean.
The six-strong luxury chain also has one hotel in Antigua, the boutique-style Tradewinds.
Chief executive officer Robert Scavone said the company was considering both acquisitions and building new properties but declined to reveal locations.
“We do not set ourselves artificial targets. Doubling the bedstock in the Caribbean is a realistic goal for Elegant,” said Scavone.
Speaking during a visit to London to meet City investors, Scavone said he was confident of getting the financial backing for the group’s expansion.
“Funds are not an issue. If we get our analysis right, then the business plan will sell itself to investors.
“First we have to decide on the location and then look at what properties are available. There are hotels for sale all the time in the Caribbean.
“Once we are satisfied on the location, then deciding whether we build, buy or manage is less important.
“What is crucial is that wherever we are present, we must be satisfied that we can beat the competition,” he added.
Before joining Elegant last May Scavone worked in corporate finance for shipping companies.