PPHE Hotel Group Limited Approval for European Hospitality Real Estate Fund (2922X)
April 25 2023 - 2:00AM
UK Regulatory
TIDMPPH
RNS Number : 2922X
PPHE Hotel Group Limited
25 April 2023
25 April 2023
PPHE Hotel Group Limited
("PPHE" or the "Group")
PPHE secures regulatory approval for European Hospitality Real
Estate Fund
PPHE Hotel Group, the international hospitality real estate
group which develops, owns and operates hotels and resorts, is
pleased to announce that the required regulatory approvals for its
recently launched European Hospitality Real Estate Fund ("the
Fund") have been secured.
The Fund enables the Group to further accelerate its strategy of
identifying, acquiring and developing attractive hotel assets
across a range of key European markets. Hotels acquired by the Fund
will be operated by PPHE's hospitality operating platform.
PPHE intends to participate in the Fund for an amount up to
EUR50 million in cash and/or assets. In March 2023, the Group
announced Clal Insurance as the Fund's cornerstone investor, which
has committed to invest up to EUR75 million. Following receipt of
regulatory approvals additional investors are now able to
participate for the remaining EUR125 million equity. With full
equity subscription and combined with a targeted 50% bank leverage
the investment potential of the Fund will be around EUR500
million.
This is consistent with PPHE's longstanding approach to building
shareholder value through the careful stewardship of its own
balance sheet and partnership with third-party capital
providers.
Boris Ivesha, President & CEO of PPHE Hotel Group,
commented:
"We are delighted to have secured regulatory approval for the
new Fund, which is one of the many entrepreneurial ways in which
the Group is delivering value creation for our shareholders."
Enquiries
PPHE Hotel Group Limited Tel: +31 (0)20 717 8600
Daniel Kos, Chief Financial Officer & Executive
Director
Robert Henke, Executive Vice President
of Commercial Affairs
Hudson Sandler Tel: +44 (0)20 7796
4133
Wendy Baker / Charlotte Cobb / Ben Wilson pphe@hudsonsandler.com
Notes to Editors
PPHE Hotel Group is an international hospitality real estate
company, with a GBP2.0 billion portfolio, valued as at December
2022 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily
prime freehold and long leasehold assets in Europe.
Through its subsidiaries, jointly controlled entities and
associates it owns, co-owns, develops, leases, operates and
franchises hospitality real estate. Its portfolio includes
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's
strategy is to grow its portfolio of core upper upscale city centre
hotels, leisure and outdoor hospitality and hospitality management
platform.
PPHE Hotel 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,
PPHE Hotel 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.
PPHE Hotel Group is a Guernsey registered company with shares
listed on the London Stock Exchange. PPHE Hotel Group also holds a
controlling ownership interest in Arena Hospitality Group, whose
shares are listed on the Prime market of the Zagreb Stock
Exchange.
Company websites
www.pphe.com | www.arenahospitalitygroup.com
For reservations
www.parkplaza.com | www.artotel.com | www.arenahotels.com |
www.arenacampsites.com
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