TIDMPPH

RNS Number : 4778T

PPHE Hotel Group Limited

14 November 2019

14 November 2019

PPHE Hotel Group Limited

("PPHE Hotel Group")

Acquisition of Shares in Arena

PPHE Hotel Group, an international hospitality company which together with its subsidiaries (the "Group") owns and develops hotels and resorts, operates the Park Plaza(R) brand in EMEA and owns the art'otel(R) brand, announces that the Group has increased its controlling ownership interest in Arena Hospitality Group d.d ("Arena"), whose shares are listed on the Prime market of the Zagreb Stock Exchange, by acquiring an additional 26,247 shares at a price of HRK 371.8 per share. Arena acquired the remaining 25,000 shares which were offered for sale.

By way of background, CERP (a governmental body in Croatia) announced earlier this year of their intention to dispose of their minority positions across various listed and unlisted companies, including Arena. The Group was therefore presented with an opportunity to acquire these shares of Arena.

Following this acquisition and buyback by Arena, the Group now owns 2,691,723 shares in Arena, representing 52.93% of its voting shares.

Enquiries:

 
PPHE Hotel Group Limited 
Daniel Kos, Chief Financial Officer & Executive 
 Director 
Robert Henke, Executive Vice President of Commercial  Tel: +31 (0)20 717 
 and Corporate Affairs                                 8600 
Lisa Woodman, Director of Corporate Communications    Tel: +44 (0)20 7034 
                                                       4800 
Hudson Sandler Financial Public Relations 
Wendy Baker/ Lucy Wollam                              Tel: +44 (0)20 7796 
                                                       4133

Notes to Editors

PPHE Hotel Group is an international hospitality real estate company, with a GBP1.7 billion portfolio (valued as at summer of 2019) of primarily prime freehold and long leasehold assets in Europe.

PPHE Hotel Group's guiding principle is to generate attractive returns from operations and long-term capital appreciation.

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(R) branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel(R) brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments(R) and Arena Campsites(R) brands. This multi-brand approach enables PPHE Hotel Group to develop and operate properties across several segments of the hospitality market.

PPHE Hotel Group is one of the largest owner/operators of hotels in central London and its property portfolio comprises of 38 hotels and resorts in operation, offering a total of approximately 8,800 rooms and 8 campsites, offering approximately 6,000 units. PPHE Hotel Group's development pipeline includes two new hotels in London and one in New York City which are expected to add an additional 600 rooms by the end of 2022/2023.

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

For images and logos visit

www.vfmii.com/parkplaza

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQGGGPGGUPBGAC

(END) Dow Jones Newswires

November 14, 2019 10:17 ET (15:17 GMT)

Pphe Hotel (LSE:PPH)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Pphe Hotel Charts.
Pphe Hotel (LSE:PPH)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Pphe Hotel Charts.