PPHE Hotel Group Ltd

PPHE Hotel Group Limited owns, co-owns, develops, leases, operates, and franchises hospitality real estate in the Netherlands, the United Kingdom, Germany, Croatia, Austria, Hungary, Italy, and Serbia. It focuses on full-service upscale, upper upscale, and lifestyle hotels in cities and regional locations, as well as resort and campsite properties in select resort destinations. Its brands include Park Plaza, art'otel, Holmes, Radisson Collection, Arena Campsites, and Arena Hotels & Apartments, along with restaurants, bars, and licensed outlets such as the Italian coffee bar espressamente illy and the Balinese Mandara Spa. The company was formerly known as Park Plaza Hotels Limited and changed its name to PPHE Hotel Group Limited in March 2012; it was founded in 1986 and is headquartered in Amsterdam, the Netherlands.

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PPHE Hotel Group H1 Results Show Revenue Growth Despite Strategic Review Failure

PPHE Hotel Group reported solid half-year results with like-for-like total revenue up 4.7% to GBP 208 million and EBITDA up 8% to GBP 49 million, but its strategic review concluded without a firm offer after Euro Plaza Holdings withdrew support for Fattal Hotel Group's GBP 22 per share proposal. The company acquired the freehold of Park Plaza London Waterloo for GBP 147.9 million and disposed of a New York development site for USD 33.5 million, using proceeds to repay debt. UK operations drove growth with a 6.8% revenue increase and 5.2% RevPAR growth, while the Dutch VAT increase from 9% to 21% caused a GBP 1.3 million EBITDA drop. Net debt rose by GBP 157 million to GBP 932 million, and the group's average loan-to-value stands at 39.5% with debt maturity extended to 4.4 years. Summer trading is in line with full-year consensus expectations, with improving momentum in Croatia and continued strength in UK properties.

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