12 September 2023

PPHE Hotel Group Limited

("PPHE" or the "Group")

October opening of art'otel Zagreb, Croatia's first art'otel

PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is pleased to announce the opening of the premium lifestyle art'otel Zagreb in early October 2023. The opening follows the art'otel brand's successful London debut at Battersea Power Station earlier this year, with another two art'otels set to open in London Hoxton (Q1 2024) and Rome (H1 2024).

The opening of art'otel Zagreb follows a £16 million investment by the Group's Croatian subsidiary (Arena Hospitality Group) to convert an iconic building, known to be one of the best examples of Zagreb's Art Déco architecture, in the heart of the city centre. Located just off Zagreb's main square (Ban Jelačić Square), the hotel features 110 rooms, a rooftop bar with a panoramic view of the city (opening in 2024), pan-Asian destination restaurant and bar YEZI, four meeting spaces, a spa and an indoor pool.

Each art'otel is dedicated to a Signature Artist and at art'otel Zagreb works from the late Boris Bućan, one of Croatia's best-known artists, were selected.  This is the poignant last collection of his life's creativity, in which his artwork is layered within the very fabric of the hotel, to deliver a canvas for residents to enjoy during their stay.

Boris Ivesha, President & Chief Executive Officer, PPHE Hotel Group said:

"We are very pleased to launch our new art'otel Zagreb, our first art'otel in Croatia, which will soon be joined by art'otel London Hoxton and art'otel Rome in 2024. This is the first of four new hotel openings in the next nine months and is a great addition to our growing portfolio of premium lifestyle art'otels. Collectively, our new openings are targeted to deliver at least £25 million of EBITDA upon stabilisation.

We are extremely proud to add this brand-new hotel in the Croatian capital to our growing portfolio of hotels and look forward to welcoming our first guests."

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Notes to Editors:

PPHE Hotel Group is an international hospitality real estate company, with a £2.0 billion portfolio, valued as at December 2022 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.

Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its portfolio includes full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations. The Group's strategy is to grow its portfolio of core upper upscale city centre hotels, leisure and outdoor hospitality and hospitality management platform.

PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.

PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.

Company websites: www.pphe.com | www.arenahospitalitygroup.com

For reservations:

www.parkplaza.com | www.artotel.com | www.arenahotels.com | www.arenacampsites.com