PPHE Hotel Group Limited Transfer of Arena to Prime Market of the ZSE (0437L)
December 20 2018 - 2:00AM
UK Regulatory
TIDMPPH
RNS Number : 0437L
PPHE Hotel Group Limited
20 December 2018
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)
Tel: +44 (0)20 7796
4133
Wendy Baker/ Sophie Lister pphe@hudsonsandler.com
Notes to editors
PPHE Hotel Group Limited ('PPHE' or the 'Group') is an
international hospitality real estate company, with a GBP1.6
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(R) branded hotels
and resorts in Europe, the Middle East and Africa. In addition, the
Group wholly owns, and operates under, the art'otel(R) brand and
its Croatian subsidiary owns, and operates under, the Arena Hotels
& Apartments(R) and Arena Campsites(R) 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
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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