PPHE Hotel Group Limited Hoxton project and Park Plaza London Riverbank (2282C)
17 Junio 2021 - 2:59AM
UK Regulatory
TIDMPPH
RNS Number : 2282C
PPHE Hotel Group Limited
17 June 2021
17 June 2021
PPHE Hotel Group Limited
("PPHE", the "Group" or the "Company")
art'otel london hoxton project and Park Plaza London
Riverbank
Further to recent press speculation, PPHE Hotel Group can
confirm that it is in advanced discussions with Clal Insurance
Company, one of Israel's leading insurance and long-term savings
companies ("CLAL"), about the prospective acquisition of a 49%
(indirect) stake by CLAL in art'otel london hoxton project and Park
Plaza London Riverbank.
Entry into this transaction would entail PPHE retaining a 51%
controlling stake based on a GBP263 million value for Park Plaza
London Riverbank and GBP279 million for the art'otel london hoxton
project (reflecting the fair value of the land and remaining
development costs), subject to a long-term hotel management
contract over both hotels.
There can be no certainty that a formal agreement will be
reached with CLAL and the Company will make a further announcement
in due course as appropriate.
Enquiries
PPHE Hotel Group Limited
Daniel Kos, Chief Financial Officer and Executive Tel: +31 (0)20 717
Director 8600
Inbar Zilberman, Chief Corporate & Legal Officer
Robert Henke, Executive Vice President of Commercial
Affairs
Hudson Sandler
Wendy Baker/ Lucy Wollam Tel: +44 (0)20 7796
4133
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: PPHE Hotel Group | Arena Hospitality Group
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END
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June 17, 2021 03:59 ET (07:59 GMT)
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