PPHE Hotel Group, the international hospitality real estate group which owns, co-owns and develops hotels, resorts and campsites, has today announced that it is to join both the FTSE 250 and FTSE All Share Indices.
The latest quarterly review by FTSE Russell, the global index provider, confirmed that the company has met the requisite criteria and will be included as a constituent of both indices with effect from the start of trading on 24 June 2019.
This follows the transfer of PPHE Hotel Group's ordinary shares to the Premium Listing segment of the FCA's Official List in July 2018.
Boris Ivesha, President & CEO of PPHE Hotel Group, said, 'Inclusion in the FTSE 250 is another significant corporate milestone for PPHE Hotel Group. This is the culmination of much recent corporate activity which has been focused on engaging with a wider potential investor base and improving liquidity. We look forward to continuing to widen our existing strong investor base in the years ahead.
'PPHE Hotel Group's proven development strategy is to target real estate in prime locations and attractive geographies where we believe there is significant upside potential to drive growth and long-term value through both the property portfolio and operations. PPHE Hotel Group has a £1.6 billion portfolio (as valued in the summer of 2018) of primarily freehold and long leasehold assets in Europe in leading cities, urban markets and resort destinations.'
Ivesha concluded, 'We take an integrated and entrepreneurial approach and have a strong 30-year track record in creating value through owning, developing and operating hospitality real estate, a robust financial position and an attractive pipeline to deliver future growth in profits and real estate assets. We look forward to progressing these new opportunities along with our committed repositioning and renovation projects.'
Pictured is a CGI of PPHE’s Hoxton hotel, which is scheduled to open in 2023.