Completion of Acquisition of Joint Venture

RNS Number : 3554I

PPHE Hotel Group Limited

20 March 2018

PPHE Hotel Group Limited

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

Completion of Acquisition of Joint Venture Interest in London

Further to the announcement on 24 January 2018, PPHE Hotel Group is pleased to announce that today one of its wholly owned subsidiaries has completed the acquisition from its joint venture partner of its fifty percent interest in its joint venture company, Aspirations Limited. Aspirations Limited owns the site located by Old Street, Rivington Street, Great Eastern Street and Bath Place, London EC1 on which the Company plans to develop art'otel london hoxton.

Enquiries:

PPHE Hotel Group Limited
Robert Henke, Executive Vice President of Corporate Affairs and Customer Experience	Tel: +31 20 717 8600
Lisa Woodman, Director of Corporate Communications	Tel: +44 (0)20 7034 4800

Hudson Sandler
Wendy Baker/Sophie Lister	Tel: +44 (0)20 796 4133
	pphe@hudsonsandler.com

Notes to editors

The Company is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates (the "Group"), owns, leases, operates, franchises and develops full-service upscale, upper upscale and lifestyle hotels in major gateway cities, regional centres and select resort destinations, predominantly in Europe.

The majority of the Group's hotels operate under the Park Plaza® Hotels & Resorts or art'otel® brands. The Group has an exclusive licence from Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa.

The art'otel® brand is wholly owned by the Group.

The Group has a controlling ownership interest (51.97% of the share capital) in Arena Hospitality Group, one of Croatia's best-known hospitality groups.

The Group's portfolio of owned, leased, managed and franchised hotels comprises 39 hotels offering a total of nearly 9,000 rooms. The Group's development pipeline includes two new hotels which are expected to add an additional 500 rooms by the end of 2022.

Company websites:

www.pphe.com
www.arenahospitalitygroup.com

For reservations:

www.arenacampsites.com

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

This information is provided by RNS

The company news service from the London Stock Exchange

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