New hotel development in Zagreb

RNS Number : 3569B

PPHE Hotel Group Limited

30 January 2020

 

30 January 2020

PPHE Hotel Group Limited

New hotel development in Zagreb

PPHE Hotel Group ("PPHE" or the "Group"), the international hospitality real estate group which develops, owns and operates hotels and resorts, today announces its plans to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group d.d. ("Arena").

Arena has entered into a 45-year lease for the development and operation of a contemporary branded hotel in Zagreb, Croatia. The development, which is subject to obtaining the necessary permits, involves the conversion of an iconic building in a prime location in the heart of the city. Once opened, this 115 room hotel will include a destination restaurant and bar, wellness and spa facilities, fitness centre, event space and parking. The hotel is expected to open within 24 months.

This development is further evidence that Arena is executing on its strategy to expand its business in Central Eastern Europe. The new city centre hotel will enhance the geographic spread of Arena's portfolio, which is currently centred on the Istrian coast, and decrease the exposure to seasonality. This new addition to the expanding portfolio will also further support Arena's profile and reputation in the upscale, upper upscale and lifestyle market segments.  

Boris Ivesha, President & Chief Executive Officer, PPHE said:

"This proposed new hotel in Zagreb adds further growth to our secured £300m pipeline of hotel projects in the UK, Europe and the US. Through our subsidiary Arena, we are continuing to expand our presence in Central Eastern Europe and we have the local expertise, infrastructure and reputation to realise the substantial opportunities in this exciting region."   

Enquiries

PPHE Hotel Group Limited
Daniel Kos, Chief Financial Officer & Executive Director
Inbar Zilberman, Chief Corporate & Legal Officer	Tel: [phone]
Lisa Woodman, Director of Corporate Communications	Tel: [phone]
Hudson Sandler
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 2018 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® 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.

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 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 

 

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