Acquisitions & Hotel Openings

Elegant Hotels Group Acquires Treasure Beach Hotel in Barbados

BARBADOS. May 18, 2017 - Elegant Hotels Group has acquired Treasure Beach in Barbados, a charming boutique hotel on Barbados' west coast, in a sales agreement that was finalized on May 5, 2017.

Treasure Beach is a 4-star, 35-room hotel in Paynes Bay, in the parish of St. James in Barbados. It is the adjoining property to Elegant Hotels’ Tamarind hotel, which in turn is situated next to Daphne’s and The House, which are also owned by the Group. As a result, the acquisition will mean that four of the now seven Elegant Hotels’ Barbados properties will account for a continuous 300 metre stretch of the prestigious west coast, or “Platinum Coast”, of Barbados. Treasure Beach occupies around 1.18 acres of land, and its amenities include a swimming pool, spa, and restaurant.

The hotel will be operated under the existing brand until the end of July 2017, whereupon it will be closed. Upon completion of the sales agreement in May and up to the closure date in July, Elegant Hotels will operate the hotel within the framework of its current product offering. During the closure, it will be refurbished, repositioned, and ultimately re-priced before being rebranded as ‘Treasure Beach by Elegant Hotels’, and it is expected to re-open for business at the start of November 2017. The Group plans to operate Treasure Beach as an adults-only European Plan hotel with an emphasis on a high-quality food offering. Guests of Treasure Beach will also be able to make use of the facilities of the neighbouring Tamarind hotel.

"We are delighted to be acquiring such an attractive, well known asset in one of the most desirable locations in Barbados so close to a number of our other sites. Set on the most idyllic of the island’s legendary beaches on the west and south coasts, each of our hotels features unique attributes and a distinctive personality. Together, they offer styles to suit every taste, from classic to contemporary, family-friendly to adults-only and traditional to all-inclusive. The hotels share a commitment to superb service and fine culinary experiences, and provide the ultimate beach and water sports environment for their guests. We see enormous potential for Treasure Beach, and we are excited about the prospect of creating a resort that will complement our existing portfolio and meet the exacting standards that our guests have come to expect from Elegant Hotels," said Sunil Chatrani, Elegant Hotels Group Chief Executive Officer.

Following our successful launch of Waves Hotel & Spa by Elegant Hotels last August and on the heels of its recent announcement regarding the management and sales and marketing agreements with Hodges Bay Resort & Spa in Antigua, set to open October 2017 as well as The Landings Resort & Spa in St Lucia, this newest addition to the Elegant Hotels family shows that the brand is more committed than ever to executing its long-term expansion strategy.

Superior service remains its central focus for all guests and partners, and Elegant Hotels will ensure that its top level of service continues to be a hallmark in its relationships within the travel industry itself.

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Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.