PPHE Hotel Group Limited Completion of Refinancing (5829B)
June 17 2016 - 8:13AM
UK Regulatory
TIDMPPH
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 GBP150 million and EUR182 million (GBP144.3 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 Tel: +31 (0)20
Officer 717 8603
& Chief Financial Officer
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(R) Hotels & Resorts and art'otel(R) . The
Group has an exclusive licence from Carlson, a global privately
held hospitality and travel company, to develop and operate Park
Plaza(R) Hotels & Resorts in Europe, the Middle East and
Africa. The art'otel(R) 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:
www.pphe.com
Our Hotel Brands:
www.parkplaza.com
www.artotels.com
www.arenaturist.com
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.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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