PPHE Hotel Group Limited Business Update (8205F)
12 March 2020 - 2:20AM
UK Regulatory
TIDMPPH
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: +31 (0)20 717 8600
Hudson Sandler
Tel: +44 (0)20 7796 4133
Wendy Baker / Lucy Wollam Email: pphe@hudsonsandler.com
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 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(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.
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
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
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