Report

PPHE Hotel Group - Encouraging end to the year

PPHE’s FY19 trading update is solid, meaning that management is confident of meeting expectations. FY19 like-for-like (l-f-l) room revenue growth of 6.3% follows 6.7% growth in FY18. At this stage, typically, detailed commentary on the performance at individual country level is limited. Management has indicated that trading is benefiting from the £100m investment programme, and therefore the key drivers of growth in FY19 were London and the Netherlands. FY20 will continue to benefit from the two recently reopened Park Plaza hotels in the Netherlands. Longer-term growth will be driven by the £300m development pipeline, including key projects such as two art’otels in London and one in New York.
Underlying
PPHE Hotel Group

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Kate Heseltine

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