20 March 2018
PPHE Hotel Group Limited
("PPHE Hotel Group" or the "Company")
Completion of Acquisition of Joint Venture Interest in London
Further to the announcement on 24 January 2018, PPHE Hotel Group is pleased to announce that today one of its wholly owned subsidiaries has completed the acquisition from its joint venture partner of its fifty percent interest in its joint venture company, Aspirations Limited. Aspirations Limited owns the site located by Old Street, Rivington Street, Great Eastern Street and Bath Place, London EC1 on which the Company plans to develop art'otel london hoxton.
Enquiries:
PPHE Hotel Group Limited |
|
Robert Henke, Executive Vice President of Corporate Affairs and Customer Experience |
Tel: +31 20 717 8600 |
Lisa Woodman, Director of Corporate Communications |
Tel: +44 (0)20 7034 4800 |
|
|
Hudson Sandler |
|
Wendy Baker/Sophie Lister |
Tel: +44 (0)20 796 4133 |
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[email protected] |
Notes to editors
The Company is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates (the "Group"), 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 Radisson Hotel Group, 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 nearly 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 2022.
Company websites:
www.pphe.com
www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
www.arenahotels.com
www.arenacampsites.com
For images and logos visit www.vfmii.com/parkplaza
