PPHE Hotel Group - Making the most of it
PPHE has again hit the spot with a “strong” Q3 (like-for-like RevPAR +9%, albeit currency-boosted), driven by Croatia and London. This is all the more encouraging as it is entirely rate-led, the peak trading period of Arena and proof of resilience in the capital despite a market slowdown. There is further reassurance in management’s confidence about Q4, given its significance and a demanding comparative. Development continues apace with openings and renovations on track and the company’s reassertion of its enhanced financial flexibility after the recent Waterloo sale.PPHE Hotel Group is a hospitality company. Through its subsidiaries, jointly controlled entities and associates, Co. owns, co-owns, leases, operates, franchises and develops hotels in cities, regional centers and select resort destinations, primarily in Europe. The majority of Co.'s hotels operate under the Park Plaza or art'otel brands. The art'otel brand is wholly owned by Co. Co. has a licence from Carlson Hotels to develop and operate Park Plaza Hotels & Resorts in 56 countries in Europe, the Middle East and Africa. As of Dec 31 2017, Co.'s portfolio of owned, co-owned, leased, managed and franchised hotels comprised 39 hotels providing a total of nearly 9,000 rooms.
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