20 December 2018
PPHE Hotel Group Limited
("PPHE Hotel Group" or the "Company")
Transfer of Arena Hospitality Group to the Prime Market of the Zagreb Stock Exchange and Notice of Arena's Dividend Policy
PPHE Hotel Group, an international hospitality real estate group, announces that its 51.97% owned subsidiary, Arena Hospitality group d.d. ("Arena"), has today transferred its shares from the Official Market to the Prime Market of the Zagreb Stock Exchange (the "Transfer").
Alongside the Transfer Arena has published its dividend policy, a copy of which can be found on Arena's website at www.arenahospitalitygroup.com
PPHE Hotel Group's dividend policy remains unchanged.
Boris Ivesha, President & Chief Executive Officer of PPHE Hotel Group commented:
"The Prime Market of the Zagreb Stock Exchange requires companies to adhere to best market practice and Arena's successful Transfer reflects the Group's commitment to business excellence and corporate governance. Alongside the Transfer, Arena has formalised its dividend policy. Whilst the retention of profits for investment remains Arena's priority, at this stage of Arena's growth we are supportive of the fact that a dividend distribution should be considered in 2020."
Enquiries:
Hudson Sandler (Financial Public Relations) |
|
Wendy Baker/ Sophie Lister |
Tel: +44 (0)20 7796 4133 [email protected] |
Notes to editors
PPHE Hotel Group Limited ('PPHE' or the 'Group') is an international hospitality real estate company, with a £1.6 billion portfolio of primarily prime freehold and long leasehold assets in Europe. The Group's guiding principle is to generate attractive returns from operations and long-term capital appreciation.
Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its primary focus is 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 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, the 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. This multi-brand approach enables the Group to develop and operate properties across several segments of the hospitality market.
The Group is one of the largest owner/operators of hotels in central London and its property portfolio comprises of 38 hotels and resorts in operation, offering a total of approximately 8,800 rooms and 8 campsites, offering approximately 6,000 units. The Group's development pipeline includes two new hotels in London which are expected to add an additional 500 rooms by the end of 2022.
PPHE is a Guernsey registered company and its shares are listed on the Premium Listing segment of the Main Market of the London Stock Exchange. PPHE also holds a controlling ownership interest (51.97% of the share capital) in Arena Hospitality Group, whose shares are listed on the Zagreb Stock Exchange.
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
