The Elegant Hotel Group, owner of five luxury hotels in Barbados, has received kudos from this island???s Minister of International Business, Donville Inniss, for securing a place on the AIM London Stock Exchange Market.
Stating that this was something that Barbadians should celebrate, Mr. Inniss said it was not too often that a company whose assets were principally based in Barbados would trade on a reputable market such as the London Stock Exchange.
???What is very encouraging about this is that this is an entity who is principally engaged in our tourism sector, which to my mind speaks volumes to the confidence that investors have in Barbados??? tourism industry.
“It is an entity which is principally administered by Barbadians and I think we can take a bow and celebrate with the local staff that has been really instrumental in building up and sustaining the success of the Elegant brand here in Barbados,??? he stated.
Highlighting the excellent products and services generally offered in Barbados that are of international standard, the Minister noted that the success of Elegant Hotel ought to be an inspiration for those entities that are looking for non-traditional ways of financing.
He pointed out that another great plus to this story was that the Elegant Hotel Group was an entity that was able to build itself up here in Barbados and was now able to go for non-traditional financing to help in its growth, expansion and refurbishment.
???Quite often around here we tend to look at the commercial banks for financing or a small consortium of financiers??? In the case of Elegant, they have been bold enough and confident enough to go on a public trading market place to raise the financing that they need ???
???This, I believe, will allow the company to expand in Barbados and other parts of the world??? It really is a cause to celebrate in Barbados, it is not something per say that the average Barbadian might be aware of and can identify with, but certainly from my Ministry???s end, International Business, it is indeed a manifestation of what an excellent domicile we have here in Barbados for discerning investors,??? Mr. Inniss underscored.