{"id":42924,"date":"2019-07-10T00:58:53","date_gmt":"2019-07-10T04:58:53","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=42924"},"modified":"2019-07-10T00:58:53","modified_gmt":"2019-07-10T04:58:53","slug":"hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/","title":{"rendered":"Hodges Bay Resort & Spa terminates agreement with Elegant Hotels Group, PLC"},"content":{"rendered":"
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\u00a0JSN Development Group Limited (“JSN”) of\u00a0Antigua and Barbuda announced<\/span>\u00a0today that its flagship newly opened\u00a0US$100 Million<\/span>\u00a0property, Hodges Bay Resort & Spa on the northwest shore of\u00a0Antigua<\/span>\u00a0has severed its relationship with Elegant Hotels Group PLC (LON:EHG) of\u00a0London<\/span>\u00a0and\u00a0Barbados<\/span>\u00a0and it is no longer under management contract with them.<\/p>\n

JSN terminated the agreement\u00a0today with their lawyers, CANDEY, alleging\u00a0repudiatory breach of contract, accounting failures\u00a0and\u00a0financial negligence.<\/p>\n<\/div>\n<\/div>\n

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JSN has taken over direct and immediate management of the resort to elevate the level of service to the highest levels of luxury that they and their guests can expect from the\u00a0Caribbean’s<\/span>\u00a0leading hotel.<\/p>

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All pending reservations will be fully honored by the resort.<\/p>\n<\/div>\n

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\"Elegant<\/div>\n<\/div>\n
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Elegant says it currently has around $1.7 million balances outstanding in relation to Hodges Bay. It has stressed the situation will not affect its full-year outlook for 2019 or 2020.<\/p>

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\u201cThe company confirms that, although the operating term of the management contract has not commenced, it has now received a termination notice in relation to the management contract,\u201d said Elegant in a statement to the stock market.<\/p>\n

\u201cThe company disputes the validity of this termination notice and intends to take all action necessary to preserve shareholder value. The company can confirm it has approximately $1.7 million balances outstanding in relation to Hodges Bay; $1.5 million in the form of a loan to the Hodges Bay management company, and $0.2 million unpaid technical service fees.<\/p>

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\u201cUnder the terms of the management contract, the loan is now immediately repayable to the company following receipt of the termination notice.\u201d<\/p>\n<\/div>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

\u00a0JSN Development Group Limited (“JSN”) of\u00a0Antigua and Barbuda announced\u00a0today that its flagship newly opened\u00a0US$100 Million\u00a0property, Hodges Bay Resort & Spa on the northwest shore of\u00a0Antigua\u00a0has severed its relationship with Elegant Hotels Group PLC (LON:EHG) of\u00a0London\u00a0and\u00a0Barbados\u00a0and it is no longer under management contract with them. JSN terminated the agreement\u00a0today with their lawyers, CANDEY, alleging\u00a0repudiatory breach of […]<\/p>\n","protected":false},"author":3,"featured_media":11557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"yoast_head":"\nHodges Bay Resort & Spa terminates agreement with Elegant Hotels Group, PLC - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hodges Bay Resort & Spa terminates agreement with Elegant Hotels Group, PLC\" \/>\n<meta property=\"og:description\" content=\"\u00a0JSN Development Group Limited (“JSN”) of\u00a0Antigua and Barbuda announced\u00a0today that its flagship newly opened\u00a0US$100 Million\u00a0property, Hodges Bay Resort & Spa on the northwest shore of\u00a0Antigua\u00a0has severed its relationship with Elegant Hotels Group PLC (LON:EHG) of\u00a0London\u00a0and\u00a0Barbados\u00a0and it is no longer under management contract with them. JSN terminated the agreement\u00a0today with their lawyers, CANDEY, alleging\u00a0repudiatory breach of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-10T04:58:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/01\/Hodges.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"582\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"Hodges Bay Resort & Spa terminates agreement with Elegant Hotels Group, PLC\",\"datePublished\":\"2019-07-10T04:58:53+00:00\",\"dateModified\":\"2019-07-10T04:58:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\"},\"wordCount\":272,\"commentCount\":6,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:900\/h:582\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/01\/Hodges.jpg\",\"articleSection\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\",\"url\":\"https:\/\/antiguanewsroom.com\/hodges-bay-resort-spa-terminates-agreement-with-elegant-hotels-group-plc\/\",\"name\":\"Hodges Bay Resort & Spa terminates agreement with Elegant Hotels Group, PLC - 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