PPHE Hotel Group Limited Improved planning consent agreed for art'otel
01 Abril 2019 - 12:01AM
RNS Non-Regulatory
TIDMPPH
PPHE Hotel Group Limited
01 April 2019
PPHE HOTEL GROUP LIMITED
("PPHE Hotel Group" or the "Company")
PPHE Hotel Group drives forward its GBP180 million committed
investment in new pipeline as improved final planning consent is
agreed for art'otel london hoxton
Improved planning consent approved by Hackney Council with the
development now starting
PPHE Hotel Group, an international hospitality real estate
group, is pleased to announce it has received planning consent by
Hackney Council for an improved and final development scheme of its
wholly-owned art'otel london hoxton development. The total gross
development of the scheme is 32,246 sqm over 27 floors.
The site, which is located on the border of Shoreditch and
Hoxton, is a mixed-use scheme and will now consist of five floors
of office space and seventeen floors comprised of 343 hotel rooms
and suites.
The remaining five floors of the development will include a gym,
swimming pool and wellness facilities, as well as art gallery space
with an auditorium and event space on the 24(th) floor with
unrivalled views across London. The interior design of the art'otel
will be inspired by a signature artist, whose original works will
be displayed, and the hotel will offer destination restaurants and
bars including a rooftop lounge.
Work on the site will take place from April 2019 and the
development and art'otel london hoxton is expected to open in
2023.
Boris Ivesha, President & Chief Executive Officer of PPHE
Hotel Group commented:
"We are delighted to have received planning consent for our
improved and final scheme to develop the art'otel london hoxton
site into a 27-floor property. We have huge aspirations for our
wholly-owned art'otel brand at a global level and with developments
in progress in London's Hoxton and Battersea Power Station areas
along with the recently announced New York City development we
believe we can create further value for shareholders and enhance
the overall guest experience."
"Since first listing in 2007, PPHE Hotel Group has significantly
grown the business and has a proven track record of successful
property development and creating value throughout the hospitality
real estate supply chain. Recent corporate developments now mean
that we have achieved the free float required for the Company to
qualify for inclusion in the FTSE UK series of indices."
Enquiries:
PPHE Hotel Group Limited
Daniel Kos
Chief Financial Officer & Executive Director
Robert Henke
Executive Vice President of Commercial
& Corporate Affairs Tel: +31 (0)20 717 8600
Hudson Sandler
Tel: +44 (0)20 7796 4133
Wendy Baker / Sophie Lister Email: pphe@hudsonsandler.com
Notes to editors
PPHE Hotel 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 and
one in New York City which are expected to add an additional 600
rooms by the end of 2022/2023.
PPHE Hotel Group 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 Hotel Group 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.arenahotels.com
www.arenacampsites.com
For images and logos visit
www.vfmii.com/parkplaza
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END
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