Acquisition of freehold site

RNS Number : 2002V

PPHE Hotel Group Limited

02 December 2019

 

PPHE Hotel Group Limited

("PPHE Hotel Group" or the "Group")

Acquisition of freehold site

PPHE Hotel Group, the international hospitality real estate group which owns, co‐owns and develops hotels, resorts and campsites, is pleased to announce that it has acquired the freehold interest in a site located in London SE1 (the "Site") with a view to developing the Site into a hotel, subject to planning permission being obtained.

The Site was acquired from a third party seller at a total investment of £12 million (excluding taxes and associated costs) funded from the Group's existing cash. The Group acted quickly to secure this attractive opportunity, which is situated near to Park Plaza London Waterloo. The acquisition is aligned to PPHE Hotel Group's proven development strategy of targeting real estate in prime locations and attractive geographies where there is significant upside potential to drive growth and long-term value through both the property portfolio and operations.

Enquiries:

PPHE Hotel Group Limited
Daniel Kos, Chief Financial Officer & Executive Director
Robert Henke, Executive Vice President of Commercial and Corporate Affairs	Tel: [phone]
Lisa Woodman, Director of Corporate Communications	Tel: [phone]
Hudson Sandler Financial Public Relations
Wendy Baker / Lucy Wollam	Tel: [phone]

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) 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® 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. 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 

 

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