PPHE Hotel Group Ltd (PPH)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

1,810.00p
   
  • Change Today:
      20.00p
  • 52 Week High: 1,990.00
  • 52 Week Low: 1,525.00
  • Currency: UK Pounds
  • Shares Issued: 42.40m
  • Volume: 21,442
  • Market Cap: £767.41m
  • RiskGrade: 100
  • Beta: 0.00

PPHE buys out partner at Hoxton hotel development site

By Josh White

Date: Wednesday 24 Jan 2018

LONDON (ShareCast) - (ShareCast News) - Full-service upscale and lifestyle hotel company PPHE Hotel Group announced on Wednesday that one of its wholly-owned subsidiaries has exchanged contracts to buy from its joint venture partner its 50% interest in its joint venture company, Aspirations, for a consideration of £35m, subject to working capital adjustments to be made on completion.
The London-listed firm said Aspirations owns the site located by Old Street, Rivington Street, Great Eastern Street and Bath Place, London EC1, on which it planned to develop a property branded 'art'otel london hoxton'.

PPHE initially entered into the joint venture in 2008 by investing £11m for its 50% interest.

The acquisition, which will be funded through cash resources, would enable the company to control the timetable for construction.

As a result, construction of a mixed-use scheme consisting of the 318 room 'art'otel london hoxton', office and commercial space and ancillaries was now expected to begin in the second quarter of this year.

The board said the sale was expected to complete by the end of March.

"We are excited about this latest transaction which is part of realising the next phase of growth for our group," said PPHE president and chief executive Boris Ivesha.

"Construction of 'art'otel london hoxton' is now expected to commence in the second quarter of this year and this lifestyle hotel, located in one of London's most exciting neighbourhoods, will complement our other 'art'otel' already under construction, the landmark 'art'otel london battersea power station'."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PPH Market Data

Currency UK Pounds
Share Price 1,810.00p
Change Today 20.00p
% Change 1.12 %
52 Week High 1,990.00
52 Week Low 1,525.00
Volume 21,442
Shares Issued 42.40m
Market Cap £767.41m
Beta 0.00
RiskGrade 100

PPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.29% below the market average79.29% below the market average79.29% below the market average79.29% below the market average79.29% below the market average
71.05% below the sector average71.05% below the sector average71.05% below the sector average71.05% below the sector average71.05% below the sector average
Price Trend
79.30% above the market average79.30% above the market average79.30% above the market average79.30% above the market average79.30% above the market average
77.22% above the sector average77.22% above the sector average77.22% above the sector average77.22% above the sector average77.22% above the sector average
Income
60.86% below the market average60.86% below the market average60.86% below the market average60.86% below the market average60.86% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
14.90% above the market average14.90% above the market average14.90% above the market average14.90% above the market average14.90% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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PPH Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 25-Apr-19
Paid 15-Oct-19 20-May-19
Amount 17.00p 19.00p

Trades for 20-Sep-2019

Time Volume / Share Price
16:48 66 @ 1,810.00p
16:35 7,095 @ 1,810.00p
16:29 46 @ 1,800.00p
16:29 8 @ 1,800.00p
16:29 8 @ 1,790.00p

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