Report Publication Announcement • Jun 17, 2016
Report Publication Announcement
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National Storage Mechanism | Additional information
RNS Number : 5829B
PPHE Hotel Group Limited
17 June 2016
17 June 2016
PPHE Hotel Group Limited
Completion of Refinancing of London and Dutch hotels
PPHE Hotel Group Limited (the Company), which together with its subsidiaries (the Group) owns, leases, develops, operates and franchises full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe, is pleased to report that further to its announcement on 16 June 2016, the two new £150 million and €182 million (£144.3 million) ten year facility agreements relating to the refinancing of two of its London hotels and all six of its Dutch hotels has today completed.
Enquiries:
| PPHE Hotel Group Limited | |
| Chen Moravsky, Deputy Chief Executive Officer & Chief Financial Officer |
Tel: +31 (0)20 717 8603 |
| Hudson Sandler Financial Public Relations | |
| Wendy Baker / Katie Matthews | Tel: +44 (0)20 7796 4133 |
Notes to editors
PPHE Hotel Group Limited is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates, owns, leases, operates, franchises and develops full service upscale and lifestyle hotels in major gateway cities and regional centres, predominantly in Europe.
The majority of the Group's hotels operate under two distinct brands, Park Plaza® Hotels & Resorts and art'otel®. The Group has an exclusive licence from Carlson, a global privately held hospitality and travel company, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa. The art'otel® brand is fully owned by the Group.
The Group also owns a controlling interest in the Arenaturist group, one of Croatia's leading hospitality companies.
The portfolio of owned, leased, managed and franchised hotels comprises 38 hotels in operation offering a total of more than 8,300 rooms. The development pipeline includes five new hotel projects and one hotel extension and reconfiguration. These developments are expected to add nearly 1,100 rooms to our portfolio by the end of 2016 and an additional 500 rooms by the end of 2019.
Our Company:
Our Hotel Brands:
For images and logos visit www.vfmii.com/parkplaza
Forward-looking statements
This announcement may contain certain "forward-looking statements' which reflect the Company's and/or the Directors' current views with respect to financial performance, business strategy and future plans, both with respect to the Group and the sectors and industries in which the Group operates. Statements which include the words "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue" and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause the Group's actual results to differ materially from those indicated in these statements. Any forward-looking statements in this announcement reflect the Group's current views with respect to future events and are subject to risks, uncertainties and assumptions relating to the Group's operations, results of operations and growth strategy. These forward-looking statements speak only as of the date of this announcement. Subject to any legal or regulatory obligations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All subsequent written and oral forward-looking statements attributable to the Group or individuals acting on behalf of the Group are expressly qualified in their entirety by this paragraph. Nothing in this announcement should be considered as a profit forecast.
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This information is provided by RNS
The company news service from the London Stock Exchange
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