Grant of Share Options

Elegant Hotels Group plc

("Elegant Hotels" or the "Company")

Grant of Share Options

The Board of Elegant Hotels, the owner and operator of five upscale freehold hotels and a beachfront restaurant on the island of Barbados, announces that on the 18 July 2016, the Company's Remuneration Committee approved the grant of a tranche of share options (the "Options") to subscribe for ordinary shares of 1 pence each (the "Ordinary Shares") in the Company, pursuant to the Elegant Hotels Long Term Incentive Plan and the Elegant Hotels non-employee Long Term Incentive Plan (together the "LTIPs"), details of which are outlined in the Elegant Hotels admission document dated 11 May 2015 (the "Admission Document").

A total of 657,271 Options will be granted on the terms of the LTIPs to Richard Jones.

The vesting date of the Options will be 30 September 2018 being the end of the performance period. Performance criteria required for the Options to become exercisable have been set by the Remuneration Committee and are based on a combination of total shareholder return and earnings growth targets.

Following the grant of these Options, Richard will hold the following:

Richard holds no Ordinary Shares.

Following grant of the Options, a total of 4,138,391 options over Ordinary Shares are outstanding, representing approximately 4.7% of the current undiluted issued shared share capital of the Company.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

NOTES TO EDITORS:

Elegant Hotels owns and operates six luxury hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio comprises 553 rooms, which represents around 29% of Barbados' quality leisure tourist room stock. Five of the six Group hotels, including its recent acquisition Waves Hotel & Spa, are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 22 acres and an aggregate beachfront of 2,500 feet. In the year to 30 September 2015, the Group achieved revenues of $60.1 million and EBITDA before non-recurring items of $22.2 million.

The Group's shares were admitted to trading on the London Stock Exchange's AIM in May 2015. Its objective now is to leverage its position as a leading hotel operator in Barbados and to expand both on Barbados and further into the Caribbean.

Together, the Group's six hotels - Colony Club, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa - offer styles encompassing classic and contemporary, family-friendly and adults-only:

Investor website: http://www.eleganthotelsgroup.com/  

Commercial website:  http://www.eleganthotels.com/