Elegant Hotels Acquires Waves Hotel And Spa In Barbados
WHY IT RATES: Smart move. Elegant is already in Barbados and understands the island. – Rich Thomaselli, TravelPulse Senior Editor
PHOTO: The swimming pool at Waves Hotel and Spa, soon to be acquired by Elegant Hotels Group (Courtesy Waves Hotel)
Boutique hotel brand Elegant Hotels Group plc, has acquired the Waves Hotel and Spa in Barbados, adding to its current portfolio of five premium hotels and a beachfront restaurant.
Waves Hotel and Spa, located in the parish of St. James on the west coast of the island, is an all-inclusive, four star property boasting 70 bedrooms and a prime beachfront location. Close to a number of popular tourist destinations, including the areas of Holetown and Bridgetown, the hotel occupies 1.8 acres of land and includes a restaurant, bar, gym and luxury spa with 18 treatment rooms.
SEE MORE: Crystal Cove by Elegant Hotels
Elegant Hotels Group plc has entered into a conditional agreement to acquire the entire issued share capital of Swiss International Ltd in Barbados, the current owner of the hotel, for $18 million.
Once fully acquired, the $4 million refurbishment will begin, before the hotel is repositioned and repriced ahead of launching in July 2016 as ‘Waves by Elegant Hotels’.
CEO of Elegant Hotels, Sunil Chatrani said, “We are delighted to be acquiring such an attractive asset in one of the most desirable locations in Barbados. We see enormous potential for Waves and are excited about the prospect of creating a new family-friendly resort to complement our existing portfolio. Acquiring new assets both in Barbados and the wider Caribbean is a key part of our long-term growth strategy, and we continue to target a number of other opportunities of this kind.”
For more information on any of the Elegant Hotels properties or to book, visit www.eleganthotels.com
SOURCE: Elegant Hotels Group press release
Get Travel Deals and Travel News
Recent Travel Opinions
Airlines & Airports
Cruise Line & Cruise Ship