PPHE Hotel Group has announced it will carry out a strategic review as part of preparations for a possible sale of the business.
Earlier this month, reports indicated that the company’s largest shareholders were exploring various options, including the sale of their stakes in the group.
As part of the strategic review, the board will explore ways to maximise shareholder value and attract growth capital to the group.
According to a notice filed with the London Stock Exchange, a potential sale of “all or part of the issued share capital of the group” is also being considered.
However, the company confirmed that it is “not in any active discussions with any potential offeror and is not considered to be in receipt of an approach from any potential offeror” at this time.
The board has invited expressions of interest from parties that “understand the full potential of the company”.
The review will also consider the perspectives of shareholders and other key stakeholders.
Founder Eli Papouchado and PPHE President Boris Ivesha, who together hold 44% of the company’s voting rights, have given their approval for the strategic review.
The company has appointed Rothschild & Co as its financial adviser for the strategic review and any potential sale process.
PPHE Hotel Group is an international hospitality real estate company, with a portfolio valued at £2.2 billion, consisting primarily of freehold and long leasehold assets across Europe.
The group’s UK portfolio includes properties such as Art’otel London Battersea, Art’otel London Hoxton, Park Plaza Westminster Bridge, and Park Plaza Riverbank.
Since 2002, PPHE has held the exclusive master franchise rights for Radisson’s Park Plaza brand across Europe, Africa, and the Middle East, and since 2022, it has also held the rights to the Radisson Collection, Radisson Blu, and Radisson RED brands.
