PPHE Hotel Group Limited has released its audited annual results for the financial year ended 31 December 2023, along with the publication of its Annual Report & Accounts. The company reported a record revenue and EBITDA performance, as well as a significant increase in dividend. The financial highlights for the year include a 25.6% increase in total revenue to £414.6 million, a 35.5% increase in EBITDA to £128.2 million, and a 6.2% increase in EPRA NRV per share to £26.72. Additionally, the Group saw a substantial increase in adjusted EPRA earnings per share and dividend per share, reflecting strong financial performance.
The Group's strategic highlights for the year include progress on its £300+ million pipeline, with the opening of premium lifestyle art'otel London Battersea Power Station and the soft launch of art'otel Zagreb. PPHE Hotel Group also signed its first Radisson RED branded property in Belgrade, Serbia, and is set to launch highly anticipated art'otel properties in Hoxton, London, and Rome, Italy in the first half of 2024. The company has also planned other exciting projects for 2024 and beyond, including the reopening of Park Plaza Berlin Kudamm and the development of a 179-room hotel in a predominantly subterranean space of its Park Plaza Victoria London property.
Furthermore, the Group has continued to progress and enhance its ESG initiatives and credentials, including investments in renewable energy, an energy efficiency program, and the pursuit of BREEAM certifications for its properties. PPHE Hotel Group's commitment to sustainability is evident through its intensive emissions mapping process, including for Scope 3, to create ESG targets.
Boris Ivesha, President & Chief Executive Officer of PPHE Hotel Group, expressed confidence in the Group's outlook for 2024, citing the opening of new properties and the continuation of strong momentum. The Group's performance in 2023 and its strategic initiatives position it for continued growth and value creation in the hospitality real estate sector.