Elegant Hotels Group Plc announced that the Board has paid an interim dividend for the period to September 30, 2016 of 3.5 pence per ordinary share. The board intends to follow this with a second dividend of 3.5 pence in February 2017, representing a total of 7.0 pence per ordinary share for the year ended September 30, 2016.

The company provided revenue guidance for the year ended September 30, 2016. The Board believes it is prudent to have a cautious outlook, with Group revenue for the current year currently expected to be broadly flat in comparison with the fiscal year 2015.

The company also announced that it has reached an agreement in principle to bring a 123-room luxury hotel in Antigua into Elegant Hotels' portfolio under a management contract. The hotel is currently under construction and is expected to open its doors in mid to late 2017. The 193 rooms that will be added to Elegant Hotels' portfolio as a result of the Waves acquisition and the New Management Contract represent a 40% increase since the company's admission to AIM in May 2015.