Entrepreneur Luke Johnson had some relief on Wednesday as the luxury Caribbean hotels firm he backs posted first-half higher sales.
Elegant Hotels, which Johnson has a 12.5% stake in, saw a spike in UK customer numbers thanks to Brits heading to Barbados for England’s cricket tour of the West Indies.
It also benefited from more demand for all-inclusive holidays, with UK customers seeking ‘locked-in’ prices to avoid potential Brexit-induced currency headwinds.
Chief executive Sunil Chatrani said: “Elegant Hotels continues to perform well in the context of a competitive market and against a backdrop of ongoing uncertainty in its core visitor market of the UK.”
He added that forward bookings are looking strong.
Elegant Hotels said sales in the six months to March rose 3% to $43.7 million (£33.4 million). Pretax profits increased 11% to $12 million.
Johnson has been grappling with the fallout from an accounting scandal at Patisserie Valerie, which he chaired.
