Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ELEGANT HOTELS GROUP PLC. We currently have 10 research reports from 2 professional analysts.
|08Nov16 07:00||RNS||New management contract signed in Antigua|
|28Oct16 01:55||RNS||Holding(s) in Company|
|28Oct16 07:00||RNS||Holding(s) in Company|
|14Oct16 07:00||RNS||Trading Update and New Management Contract|
|22Aug16 07:00||RNS||Opening of Waves Hotel and Spa, Barbados|
|12Aug16 07:00||RNS||Holding(s) in Company|
|09Aug16 11:15||RNS||Director/PDMR Shareholding|
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Research reports on
ELEGANT HOTELS GROUP PLC
ELEGANT HOTELS GROUP PLC
Hodges Bay – first management contract
08 Nov 16
As indicated in October Elegant Hotels has completed on a management contract with a prime property where we would expect them to put their unique stamp on. This is a positive strategic step that will expand the business in an asset light way and potentially improve the quality of earnings. We continue to believe the shares look attractive from a valuation, NAV and dividend yield perspective.
14 Oct 16
Elegant has released a trading update confirming that it is trading in line with 2016 expectations. The dividend has been maintained, which is currently yielding 11% (trough cover of 1.2x 2017). The NAV is 184p, which also provides significant freehold asset support. However, we are reducing our 2017 and 2018 forecasts, which drives an 6% reduction in REVPAR in 2017 vs. our previous assumptions and is largely occupancy driven. We also factor in additional corporate costs to support the growth with the room count +35% since IPO factoring in Waves and its latest management contract.
Opening of Waves Hotel and Spa
22 Aug 16
Elegant Hotels have announced this morning the soft opening of the recently acquired Waves Hotel and Spa with full opening to follow in 2-3 months, which is in line with the original plan. This was the company’s first acquisition since listing in May 2015 and we think this will represent a good example of the company’s ability to enhance returns from assets by refurbishing, repositioning and repricing. At the current price the shares have significant asset backing with a NAV of 157p per share vs the current share price of 69p with a dividend yield of 10%, which management are committed to paying to September 2016.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Upgrade to BUY post-site visit
12 Aug 16
A positive site visit this week has given us comfort on FY16 (September) numbers. Our focus therefore now turns to FY17 forecasts, which bear upside risk, in our view. The share price remains 10% below pre-referendum levels and has been largely ignored in the post-Brexit recovery. We reaffirm our 350p price target and upgrade from Hold to Buy.