PPHE Hotel Group Limited has announced the purchase of 300,000 of its ordinary shares on the London Stock Exchange through Investec Bank Plc. The repurchased shares will be held in treasury. Following this transaction, the company now holds 2,284,110 of its ordinary shares in treasury and has 42,063,300 ordinary shares in issue, excluding treasury shares. Each ordinary share carries one vote, bringing the total number of voting rights in the company to 42,063,300.
The company provided a breakdown of the individual trades made by the Broker on behalf of the Company as part of the buy-back program. The transaction details include the date, time, volume, price, platform, and transaction reference number.
PPHE Hotel Group is an international hospitality real estate company with a portfolio primarily consisting of prime freehold and long leasehold assets in Europe. The company owns, co-owns, develops, leases, operates, and franchises hospitality real estate, including full-service upscale, upper upscale, and lifestyle hotels in major gateway cities and regional centers, as well as hotel, resort, and campsite properties in select resort destinations.
The company's strategy is to grow its portfolio of core upper upscale city center hotels, leisure and outdoor hospitality, and hospitality management platform. PPHE Hotel Group benefits from an exclusive and perpetual license from the Radisson Hotel Group to develop and operate Park Plaza branded hotels and resorts in Europe, the Middle East, and Africa. Additionally, the company wholly owns and operates under the art'otel brand and its Croatian subsidiary owns and operates under the Arena Hotels & Apartments and Arena Campsites brands.
PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange and holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.