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

EarningsCorporate Action
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Summary · why it matters

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.

Impact on stocks 2

Consumer Discretionary▲ · 1 stocks
PPHE Hotel Group Ltd
PPH
▲ PositiveCapitalrelevance

H1 revenue up 4.7% to GBP 208m and EBITDA up 8% to GBP 49m, with debt maturity extended and net debt used to repay borrowings

Artificial Intelligence▲ · 1 stocks

Off-coverage companies 2

Fattal Holdings (1998) LtdPrivate▼ Negative
Capitalrelevance

Its GBP 22 per share proposal for PPHE collapsed after Euro Plaza Holdings withdrew support

Euro Plaza HoldingsPrivate▼ Negative
Capitalrelevance

Withdrew support for Fattal's GBP 22 per share proposal, ending PPHE's strategic review without a firm offer

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