PPHE plans to run formal sale process amid strategic review

PPHE Hotel Group has revealed plans to launch a formal sale process as part of a strategic review to explore options aimed at enhancing shareholder value.

The review will assess measures such as bringing growth capital into the company or its portfolio and considering the potential sale of either all or part of its issued share capital through a formal sale process.

Rothschild & Co has been appointed as financial adviser to support both the strategic review and any formal sale process that may arise.

Shareholders and other stakeholders will have input during the review. Major shareholders Eli Papouchado and Boris Ivesha, who together hold approximately 44% of PPHE's voting rights, have expressed their support for the initiative.

PPHE operates as an international hospitality real estate company, overseeing a £2.2bn portfolio mainly comprising prime freehold and long leasehold assets across Europe.

The company manages its assets through subsidiaries, joint ventures, and associates, engaging in ownership, co-ownership, development, and leasing of hospitality properties.

The portfolio covers upscale city hotels, leisure resorts, and campsites in major European cities and targeted resort locations.

The group holds an exclusive and perpetual licence from Radisson Hotel Group to develop and operate Park Plaza branded properties in Europe, the Middle East and Africa.

PPHE also fully owns and operates under the art’otel brand, while its Croatian subsidiary manages Arena Hotels & Apartments and Arena Campsites brands.

Additionally, PPHE maintains a controlling stake in Arena Hospitality Group, which is listed on the Prime Market of the Zagreb Stock Exchange.

Recently, PPHE introduced the Oracle OPERA Cloud platform as its property management system across 18 hotels in Europe.

The implementation covered 5,200 rooms in the Netherlands, the UK and Italy, with the aim of streamlining business processes and operations at these locations.

In July, PPHE and Radisson Hotel Group formed a partnership to introduce the first Radisson RED hotel in central London, UK. The new property will be located close to the City of London’s financial district and within walking distance of Liverpool Street Station.

"PPHE plans to run formal sale process amid strategic review" was originally created and published by Hotel Management Network, a GlobalData owned brand.

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