One of the Caribbean’s top hotel companies has added another property to its portfolio.
Barbados-based Elegant Hotels Group has announced the acquisition of the Treasure Beach hotel, a deal finalized last week.
The four-star, 35-room property is located on Paynes Bay in the St. James parish of Barbados, adjacent to Elegant’s Tamarind hotel.
The acquisition will mean that four of the now-seven Elegant Hotels Barbados hotels will account for a 300-meter stretch of the island’s exclusive Platinum Coast.
The company said the property will be refurbished, repositioned and repriced before being rebranded as Treasure Beach by Elegant Hotels as part of a multimillion-dollar project.
It is expected to reopen for business at the start of November 2017 as an adults-only, European-plan hotel with an emphasis on a “high-quality food offering.”
Elegant has been on a rapid growth push, most recently having signed management and sales and marketing agreements with the soon-to-open Hodges Bay Resort and Spa in Antigua and the Landings Resort and Spa in St. Lucia.
“This newest addition to our family shows that Elegant Hotels is more committed than ever to executing its long-term expansion strategy,” said Sunil Chatrani, the Chief Executive Officer of Elegant Hotels Group.
The company’s Barbados portfolio includes Colony Club Hotel, Tamarind Hotel, The House, Turtle Beach, Crystal Cove and Waves Hotel and Spa.
— Alexander Britell