20 July 2017
PPHE Hotel Group Limited
("PPHE Hotel Group")
Completion of Sale and Leaseback of Park Plaza London Waterloo
Further to the announcement on 29 June 2017, PPHE Hotel Group is pleased to announce that one of its wholly owned subsidiaries has completed the sale and leaseback of Park Plaza London Waterloo. The purchase price was £161.5 million and the initial rent will be £5.6 million per annum.
Enquiries:
PPHE Hotel Group Limited |
Chen Moravsky, Deputy Chief Executive Officer and Chief Financial Officer |
Tel: +44 (0)20 7034 4800 |
Hudson Sandler Financial Public Relations |
|
Wendy Baker / Jocelyn Spottiswoode |
Tel: +44 (0)20 7796 4133 |
Notes to editors
PPHE Hotel Group is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full-service upscale, upper upscale and lifestyle hotels in major gateway cities, regional centres and select resort destinations, predominantly in Europe.
The majority of the Group's hotels operate under the Park Plaza® Hotels & Resorts or art'otel® brands. The Group has an exclusive licence from Carlson Hotels Worldwide Inc., one of the world's largest hotel groups, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa.
The art'otel® brand is wholly owned by the Group.
The Group has a controlling ownership interest (51.97% of the share capital) in Arena Hospitality Group, one of Croatia's best-known hospitality groups.
The Group's portfolio of owned, leased, managed and franchised hotels comprises 39 hotels offering a total of approximately 9,000 rooms. The Group's development pipeline includes two new hotels which are expected to add an additional 500 rooms by the end of 2019.
Company websites:
www.pphe.com
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
For images and logos visit www.vfmii.com/parkplaza
