Market News

PPHE Hotels sees revenues improve across all regions

31/10/2018 11:40

(Sharecast News) - Hotel real estate firm PPHE Hotel Group turned in a solid set of results for the first nine months of its trading year on Wednesday, with revenues per room improving across all regions in its third quarter. PPHE saw like-for-like sales climb 4.4% year-on-year to £262.2m over the nine months leading to 30 September. Reported revenues grew 4.1% to £263m, while revenue per available room was also up 4.1% on a like-for-like basis to £95.60. PPHE, which owns the Park Plaza hotel brand, revealed like-for-like occupancy had increased 270 basis points to 79.3% over the period. For the three months ended 30 September, like-for-like revenue picked up 4.5% to £114.2m and reported revenue grew 3% to £114.2m. Chief executive Boris Ivesha, said: "Based on our results to September and our outlook for the remainder of the financial year, the board anticipates the full year results will be in line with its previous expectations." As of 1140 BST, PPHE shares had inched forward 0.66% to 1,535p.

Investors should be aware that past performance is not a reliable indicator of future results and that the price of shares and other investments, may fall as well as rise and the amount realised may be less than the original sum invested.

Walker Crips Group plc (Old Change House, 128 Queen Victoria Street, London EC4V 4BJ), registered in England, registered number 1432059, incorporates the following companies which are authorised and regulated by the Financial Conduct Authority: Walker Crips Investment Management Limited registered in England number 4774117 member of the London Stock Exchange, Walker Crips Wealth Management Limited registered in England number 3790291, Ebor Trustees Limited registered in England number 3514268, Barker Poland Asset Management LLP registered in England and Wales number OC341149.