Alternate Director Change

RNS Number : 7653Y

PPHE Hotel Group Limited

19 May 2016

 

19 May 2016

PPHE Hotel Group Limited

Alternate Director Change

PPHE Hotel Group Limited (the "Company"), which together with its subsidiaries (the "Group") owns, leases, develops, operates and franchises full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe, announces that Eli Papouchado, has appointed Roni Hirsch as his Alternate Director in place of Yoav Papouchado, for when he is unable to attend Board meetings, with immediate effect.  This appointment shall remain valid until revoked by either Eli Papouchado or Roni Hirsch or if Eli Papouchado ceases to be a Director of the Company.

Roni Hirsch currently acts as CEO of Red Sea Hotels Limited ("Red Sea") where he has served since 2006.  He was previously a director of Lavia Holdings Ltd which was placed into voluntary liquidation.

Red Sea is controlled by Eli Papouchado, Chairman of the Company, who, together with his family trusts, owns 43.97% of the voting rights in the Company.

No further information is required to be disclosed under Listing Rule 9.6.13.

Enquiries:

PPHE Hotel Group Limited
Chen Moravsky, Deputy Chief Executive Officer & Chief Financial Officer	Tel: [phone]
Hudson Sandler Financial Public Relations
Wendy Baker / Katie Matthews	Tel: [phone]

Notes to editors

PPHE Hotel Group Limited is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe.

The majority of the Group's hotels operate under two distinct brands, Park Plaza^® Hotels & Resorts and art'otel^®. The Group has an exclusive licence from Carlson, a global privately held hospitality and travel company, to develop and operate Park Plaza^® Hotels & Resorts in Europe, the Middle East and Africa. The art'otel^® brand is fully owned by the Group.

The Group has a majority ownership interest in the Arenaturist group, one of Croatia's leading hospitality companies.

The portfolio of owned, leased, managed and franchised hotels comprises 38 hotels in operation offering a total of more than 8,300 rooms. The development pipeline includes five new hotel projects and one hotel extension and reconfiguration. These developments are expected to add nearly 1,100 rooms to our portfolio by the end of 2016 and an additional 500 rooms by the end of 2019.

Our Company:
www.pphe.com

Our Hotel Brands:
www.parkplaza.com
www.artotels.com
www.arenaturist.com

For images and logos visit www.vfmii.com/parkplaza

Forward-looking statements

This announcement may contain certain "forward-looking statements' which reflect the Company's and/or the Directors' current views with respect to financial performance, business strategy and future plans, both with respect to the Group and the sectors and industries in which the Group operates. Statements which include the words "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue" and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause the Group's actual results to differ materially from those indicated in these statements. Any forward-looking statements in this announcement reflect the Group's current views with respect to future events and are subject to risks, uncertainties and assumptions relating to the Group's operations, results of operations and growth strategy. These forward-looking statements speak only as of the date of this announcement. Subject to any legal or regulatory obligations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All subsequent written and oral forward-looking statements attributable to the Group or individuals acting on behalf of the group are expressly qualified in their entirety by this paragraph. Nothing in this announcement should be considered as a profit forecast.

 

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