PPHE Hotel Group to nearly double its London presence

19 March 2014 by
PPHE Hotel Group to nearly double its London presence

The PPHE Hotel Group is in the process of increasing its room count in London by 47% to nearly 3,300 bedrooms, according to the company's preliminary results for the year ending 31 December 2013.

Additional bedrooms will also be added at an extended and reconfigured Park Plaza Riverbank.

The nine UK hotels account for around 65% of the revenue of the group, which operates 38 hotels across 16 countries. During 2013 revenue in the UK increased by 5.1% to £137.2m (2012: £130.5m), with occupancy rising by 5.1 percentage points to 86.8%.

Average room rate decreased by 1.3% to £135.30, due to a strong comparison as a result of the Olympic Games during 2012, while revenue per available room increased by 4.8% to £117.40.

Following a refinancing of PPHE during December 2013, significant upgrades at a cost of £7m are now being considered for Park Plaza Riverbank London, Park Plaza Sherlock Holmes and Park Plaza Victoria.

PPHE Hotel Group operates the Park Plaza Hotels & Resorts brand in Europe, Middle East and Africa under licence from Carlson and fully owns the art'otel brand.

Park Plaza operator reveals fall in revenue and revpar >>

PPHE Hotel Group reports 2.2% like-for-like revenue fall in half year results >>

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