Flash note: Measuring up
PPHE has hit the spot yet again with Q4 rate-led RevPAR growth of 12%, which is on a par with the previous nine months. While currency-boosted, this is impressive, given a demanding comparative and heightened security threats. We are further reassured by confirmation that this year key renovations should not be disruptive and that openings (c 1,000 rooms) remain on track. 2015 results are due in early March (the company will report in sterling from 2016 to reflect the significance of UK earnings).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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