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Elegant Hotels announces second dividend but bookings hit over the summer by "political uncertainties" in the UK

Francesca Washtell
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Daily Life In The Carribean
Elegant Hotels has signed an agreement to bring its first hotel in Antigua under management (Source: Getty)

Caribbean tourism group Elegant Hotels has announced it will pay out another dividend in February despite its booking feeling the effects of a summer of "political uncertainty" in the UK.

In addition to an interim divi for the period to 30 September of 3.5p per share, Elegant Hotels will also pay a second divi also of 3.5p per share in February, bringing its total dividend to 7p per share for the year ended 30 September.

In a trading update today, the group said that while it appears "UK consumer confidence is returning" it has taken a hit from the Brexit blues. Political uncertainties in the UK are the most likely cause of its bookings for the current financial year "tracking slightly behind the same period of last year".

Read more: The rise of Airbnb can't stop growing UK hotel turnover

Revenue for the current year, as a result, is expected to be "broadly flat" in comparison with the 2016 financial year.

Elegant, which listed on London's junior market last May, has also signed an agreement to bring a 123-room luxury hotel in Antigua into its portfolio under a management contract.

Read more: The weaker pound is luring more US tourists to the UK

The site, which is currently under construction, is expected to open its doors around the second half of next year.

It will be Elegant's first foray into the hotel market outside of Barbados, where it currently operates six hotels and a beachfront restaurant called Daphne's.

In February, it bought its sixth resort in the Caribbean island nation for $18m (£12.5m).

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