PPHE Hotel Group Limited Acquisition of Mountain Resort, Austria (2566N)
28 Septiembre 2021 - 7:59AM
UK Regulatory
TIDMPPH
RNS Number : 2566N
PPHE Hotel Group Limited
28 September 2021
28 September 2021
PPHE Hotel Group Limited
("PPHE" or the "Group")
Acquisition of Mountain Resort in Nassfeld, Austria
PPHE Hotel Group, the international hospitality real estate
group which develops, owns and operates hotels and resorts,
announces that the Group, via its subsidiary, Arena Hospitality
Group d.d., has entered into a purchase agreement pursuant to which
the Group will acquire the FRANZ Ferdinand Mountain Resort
Nassfeld, a 4-star hotel in Nassfeld, Austria and related
businesses for an aggregate purchase price of 112 million Croatian
Kuna (approximately GBP12.7 million).
This modern mountain resort is superbly located next to the
valley station of the Nassfeld Ski Resort in Carinthia, providing
instant access to the area's 110km of slopes. The hotel offers 144
family rooms, a restaurant, bar, conference rooms, private car
park, wellness and sauna and children facilities. In addition, the
agreement includes the acquisition of a detached property
consisting of 21 rooms currently used as employee accommodation,
and a site adjacent to the hotel, currently in use as a terrace,
which is earmarked for future development of a swimming pool.
This latest acquisition is a strategic fit that complements the
Group's summer leisure business and builds on the seasonal
synergies which can be achieved due to the hotel's close proximity
to the Group's Croatian operations. In addition, Austria is one of
the Group's largest customer markets for its Croatian operations
and this hotel will help further raise the Group's profile in this
important market.
The completion of the transaction is subject to certain steps
and conditions to be fulfilled. The Group expects the conditions in
relation to the completion of the transaction to be fulfilled
latest by end of quarter one 2022. The Group will endeavour to
complete the transactions prior to the start of winter season
2021/2022.
Boris Ivesha, President & CEO of PPHE Hotel Group,
comments:
"This latest acquisition marks our entry into Austria, which is
a strong and important customer market for our Croatian operations.
It is also a further step in creating a stronger footprint in the
Central Eastern Europe and DACH regions, where we now have
properties in Croatia, Hungary, Serbia, Germany and Austria.
This announcement coincides with the start of development works
on the Group's much awaited iconic luxury hotel in Zagreb city
centre and with the repositioning programme of the luxury Hotel
Grand Brioni in Pula nearing its final stage."
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/ Lucy Wollam / Nick Moore pphe@hudsonsandler.com
Notes to Editors
PPHE Hotel Group is an international hospitality real estate
company, with a GBP1.7 billion portfolio, valued as at December
2020 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 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.
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.artotels.com | www.arenahotels.com | www.arenacampsites.com
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