Business Update

RNS Number : 8205F

PPHE Hotel Group Limited

11 March 2020

 

11 March 2020

PPHE HOTEL GROUP LIMITED
("PPHE" or "the Group")

Business Update

PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, today announces a business update following recent COVID-19 developments.

Since announcing its Annual Results on 27 February 2020, the Group has been closely monitoring the impact of COVID-19 on travel patterns.

As has been widely reported in the media and by industry benchmark reports, over recent weeks there has been reduced demand for international travel which has resulted in an increase in cancellations and a slowdown in future bookings across the travel and hotel industry, including the Group's estate. 

Due to the fast-moving nature of the situation, it is too early to provide any meaningful estimate of quantum on the Group's earnings for the current financial year given the trajectory and duration of the virus and its impact remains highly uncertain. The necessary actions to minimise the impact on the business are being taken.

PPHE has a proven 30-year track record of navigating market and economic cycles. The Group has a strong balance sheet, a well-invested estate in key gateway cities such as London and Amsterdam and an owner-operator business model which provides the flexibility to take proactive measures to respond to changing market conditions.  

The wellbeing of our team members and guests is a key priority and we are following all guidelines provided by the World Health Organisation and other relevant authorities to keep our guests and our team members safe.

Enquiries:

PPHE Hotel Group Limited
Daniel Kos Chief Financial Officer & Executive Director
Robert Henke Executive Vice President of Commercial Affairs	Tel: [phone]
Hudson Sandler
Wendy Baker / Lucy Wollam	Tel: [phone] Email: [e-mail]

Notes to Editors

PPHE Hotel Group is an international hospitality real estate company, with a 1.7 billion portfolio, valued as at summer of 2019 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its primary focus is full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations.

PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.

PPHE Hotel Group is one of the largest owner/operators of hotels in central London and its property portfolio comprises of 37 hotels and resorts in operation, offering a total of approximately 8,800 rooms and eight campsites, offering approximately 6,000 units. PPHE Hotel Group's development pipeline include new hotels in London, New York City, Belgrade and Zagreb which are expected to add more than 800 rooms to the portfolio by the end of 2023.

PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange and a constituent of the FTSE 250. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.

Company websites

www.pphe.com
www.arenahospitalitygroup.com  

For reservations

www.parkplaza.com
www.artotels.com
www.arenahotels.com  
www.arenacampsites.com  

 

END

 

 

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