13 May 2013
PPHE Hotel Group Limited
("PPHE Hotel Group", the "Company" or the "Group")
Appointment of Alternate Director
PPHE Hotel Group, which owns, leases, develops, operates and franchises full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe, announces that Eli Papouchado, has appointed his son, Yoav Papouchado, as his Alternate Director for when he is unable to attend Board meetings, with immediate effect. This appointment shall remain valid until revoked by either Eli Papouchado or Yoav Papouchado or if Eli Papouchado ceases to be a Director of the Company.
Yoav Papouchado currently acts as Chairman of Red Sea Hotels Limited ("Red Sea") where he has served since 1998. He was previously Chief Executive of Red Sea from 1989 to 1991, following which he served on the company's board from 1994 to 1997. Previously, Yoav Papouchado was a director of Lavia Holding Ltd, Yoashad Building & Investment Company Ltd, Do You Holdings Ltd and Red Sea Investments (2001) Ltd all of which were placed into voluntary liquidation. Yoav Papouchado has a B.A. in Economics and an MBA, both from Tel Aviv University.
Red Sea is controlled by Eli Papouchado, Chairman of PPHE Hotel Group, who, together with his family trusts, owns 44.63% of the voting rights in the Company.
No further information is required to be disclosed under Listing Rule 9.6.13.
Enquiries:
PPHE Hotel Group Limited
Chen Moravsky, Chief Financial Officer Tel: +31 (0)20 717 8603
Hudson Sandler Financial Public Relations
Wendy Baker / George Parker Tel: +44 (0)20 7796 4133
Notes to Editors
PPHE Hotel Group Limited (formerly Park Plaza Hotels Limited) is a Guernsey registered company, which, through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe.
The majority of the Group's hotels operate under two distinct brands, Park Plaza® Hotels & Resorts and art'otel® . The Company has an exclusive licence from CarlsonSM, a global privately owned hospitality and travel company, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa. The art'otel® brand is fully owned by the Group.
The Group has a minority ownership interest in the Arenaturist group, one of Croatia's leading hospitality companies. The Group's portfolio of owned, leased, managed and franchised hotels comprises 38 hotels offering a total of more than 8,200 rooms. Its development pipeline includes four new hotels, which together are expected to add nearly 800 rooms to the portfolio by the end of 2015.
Our Brands: Our Company:
www.parkplaza.com www.pphe.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
