PPHE Hotel Group Limited Arena Acquisition of 88 Rooms Hotel, Serbia
26 Abril 2019 - 1:53AM
RNS Non-Regulatory
TIDMPPH
PPHE Hotel Group Limited
26 April 2019
26 April 2019
PPHE Hotel Group Limited
Arena Acquisition of 88 Rooms Hotel, Serbia
PPHE Hotel Group Limited (the "Group"), the international
hospitality real estate group which owns, co-owns and develops
hotels, resorts and campsites, is pleased to announce that Arena
Hospitality Group d.d. ("Arena"), of which it is the controlling
shareholder, has agreed to acquire, via its subsidiary Sugarhill
Investments B.V., the 88 Rooms Hotel, a four-star hotel in
Belgrade, Serbia (the "Hotel") for HRK 47 million (approximately
GBP5.5m), marking its entry into a new market.
The contemporary 88 Rooms Hotel is located minutes away from the
Serbian capital's historic old town and offers 88 rooms and suites,
a restaurant, bar, conference room and fitness facilities.
The Hotel is currently owned by MK Aviation Services d.o.o. The
completion of the transaction is subject to certain steps and
conditions to be fulfilled and Arena expects the necessary steps to
acquire the full ownership of the Hotel to be completed by the end
of 2019.
Boris Ivesha, President and Chief Executive Officer, PPHE Hotel
Group, said:
"We are delighted to see Arena flourishing within the markets it
operates in. It is one of the most dynamic hospitality groups in
Central and Eastern Europe, operating iconic venues and we look
forward to continuing its momentum as it invests in its existing
portfolio and expands into new territories."
Reli Slonim, President of the Management Board, Arena
Hospitality Group said:
"We are pleased to announce this latest acquisition, which marks
our entry into a new market for our Group and is in line with our
strategy to further develop our portfolio of upscale, upper upscale
and lifestyle properties across the CEE region. Earlier this year
we announced our investment programme in several of our existing
properties and this, combined with this new acquisition,
demonstrates our commitment to further create value for our guests
and our shareholders."
-ENDS-
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
Tulchan
David Allchurch / Jessica Reid
Tel: +44 (0)20 7353 4200
Email: pphe@tulchangroup.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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