PPHE hotels sees revpar rise 12%
PPHE Hotel Group has grown revpar by 12.1% and average room rate by 11.3% in 2015.
In a trading update ahead of the publication of its annual results in March, the group said that revenue had increased 12%, while revpar had grown 12.1% to £96.70.
PPHE said the revpar increase had been driven by an 11.3% rise in average room rate to £114.64 and occupancy of 84.3%.
The group will open three hotels in 2016, including the Park PLaza London Park Royal, for which it has secured funding of up to £20.6m from Banque Hapoalim.
PPHE president and chief executive Boris Ivesha said: "2015 has been another strong year for PPHE Hotel Group with pleasing year-on-year hotel revenue and revpar growth achieved. We are continuing to invest in the expansion and improvement of our hotel portfolio, which includes three exciting new hotels due to open in 2016, a hotel extension and an extensive renovation programme."
