Update: Much more to come
PPHE has surprised yet again, with 2014 EBITDA well ahead even of our significant pre-close upgrade. While that largely reflected capex postponement and earlier caution ahead of its key Q4, the final outturn confirms growth across the board with London hotels, its major profit source, once more leading the way. Despite likely short-term disruption from refurbishments, such positive momentum and FX gain suggest continued progress this year, while 2016 should see the initial benefits of potentially transformative medium-term investment.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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