PPHE Hotel Group Reports Improved First-Half Performance Amid Strategic Adjustments
PPHE Hotel Group reported a strong first-half performance in fiscal year 2026, with like-for-like revenue rising by 4.7% to £208 million and EBITDA increasing by 8% to £49 million. The growth was primarily driven by robust trading in the UK market, higher room rates, and a surge in meetings and events business. The company acquired the freehold of Park Plaza London Waterloo for £147.9 million, which increased its net debt but eliminated future lease-rent escalations. PPHE also sold its New York development site for $33.5 million and paused several UK land-bank projects due to economic pressures. Management noted that current trading remains in line with full-year expectations despite geopolitical challenges. The CFO highlighted the impact of VAT changes on revenue in Germany, while adjusted EPRA earnings remained flat at £1.25 per share over a rolling 12-month period.
Tickers: $PPH
Topics: EBITDA increase hotel industry real estate strategy revenue growth