Island Hotels Group Holdings plc - Quote

Island Hotels Group Holdings plc - Profile

Island Hotels Group Holdings plc (IHG) was registered as a public limited liability company on 21 August 2009 following a restructuring exercise of the Island Hotels Group. Currently, the Group owns and operates three hotels namely: (i) the Coastline Hotel (100%), (ii) Radisson BLU St.Julians (100%) and (iii) the Radisson BLU Golden Sands (50% owned through the Group’s joint venture – Golden Sands Resort Limited). Moreover, the Group has a 50%
shareholding interest in Azure Group which specializes in vacation ownership (selling of time-share). IHG also fully owns Island Caterers Limited which operates in the events catering market.

The Group’s focus is currently on vacation ownership channelled to the Golden Sands Resort. Their flagship property and the revenue from vacation ownership are the most important revenue contributors to the Group and in the last full financial year ended 31 October 2008, these revenue items accounted for almost half of IHG’s total revenue which amounted to €37.5 million. The attractiveness of vacation ownership is the annual fee structure which provides a stable source of revenue to the Group. IHG plans to extend the success of this specialised market activity to the Hal Ferh development, which is in very close proximity to the Golden Sands Resort. The Island Hotels Group were the only bidders for the development of land & property at Hal-Ferh following a tender issued by the Government of Malta on 20 March 2009. This eventual development will increase the room stock and at the same time enhance room choice and holiday type for the vacation ownership business.

IHG also plans to add value to its other properties and subsidiaries. In this respect, the Group intends to fully refurbish and extend the Coastline Hotel by 100 rooms and re-launch the hotel under an international brand. Works will commence once the current contracts with a number of companies (guaranteeing a minimum occupancy level) mature in 2011. The extension is expected to be completed by December 2012 with a total investment of €11 million. IHG also plans to refurbish the main areas of the Radisson BLU St. Julians and extend its conference facilities which will include a new car park. Moreover the Group is continuously seeking growth opportunities for its fully owned catering subsidiary through the addition of unique venues, entrance into the contract market and establishing event catering venues abroad. The possibility of acquiring existing catering businesses is also being studied.

Subsidiaries

Island Hotels Group Limited (100%)

This wholly owned subsidiary fully owns Bay Point Hotel Limited and Coastline Hotel Ltd and has a 50% shareholding in Golden Sands Resort Ltd which owns the 337 room five star Radisson® Blu Golden Sands situated in Ghajn Tuffieha. The hotel offers a full complement of five star hotel facilities, leisure conference and vacation ownership accommodation.

Bay Point Hotel Limited (100%)

Bay Point Hotel Limited owns the 252 room five star Radisson Blu St Julians situated in St George’s Bay. The Radisson Blu St Julians operates under a franchise agreement with the Rezidor® Hotel Group that has exclusive rights for the use of the Radisson Blu® name within the European, Middle Eastern and African (EMEA) regions.

Coastline Hotel Limited (100%)

Coastline Hotel Limited owns the 207-room four star Coastline Hotel situated in a prime position overlooking Salina Bay.

Island Resorts International Limited (100%)

This wholly owned subsidiary has a 50% shareholding interest in the Azure Group which is the travel agent and tour operating arm for Golden Sands Resorts Limited. Azure is involved in marketing and reselling pre-allocated travel, holiday and vacation ownership holiday accommodation to travellers.

Island Caterers Limited (100%)

This subsidiary was set up in 1992 implementing a strategy of offering innovative food products and events at new and unique venues in order to fill a gap identified in the event catering market which at the time was served by a number of catering companies in a highly fragmented market.

Share Capital

On 7 October 2009, 35,269,200 ordinary shares of a nominal value of €1.00 each were admitted to the Malta Stock Exchange following an IPO in which Vassallo Builders Group Limited offered 17,200,600 shares at a price of €1.00 per share.

Double You Limited and T Limited, wholly owned by the Zahra family, acquired a total of 8,817,300 shares equivalent to 25% of the total issued share capital. The remaining 8,383,300 shares were offered for General Public subscription during which Gary Neville and Ryan Giggs subscribed to 1,100,000 shares each equivalent to 3.12% of the total issued share capital.

Island Hotels Group Holdings plc - Financials

Island Hotels Group Holdings plc Interim Accounts

Island Hotels Group Holdings plc Final Accounts

News for Island Hotels Group Holdings plc

Island Hotels Group Holdings plc - Downloads

• Island Hotels Group Holdings plc - Corporate Video (5.1 MiB, 140 hits)
• Island Hotels Group Holdings plc - September 2009 Presentation (5.5 MiB, 149 hits)
• Island Hotels Group Holdings plc - Prospectus September 2009 (4.0 MiB, 182 hits)