PPHE Hotel Group Ltd (PPH)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

1,080.00p
   
  • Change Today:
    -45.00p
  • 52 Week High: 2,140.00p
  • 52 Week Low: 805.00p
  • Currency: UK Pounds
  • Shares Issued: 42.46m
  • Volume: 4,089
  • Market Cap: £458.56m
  • RiskGrade: 334

PPHE buys out joint venture partner on New York property

By Josh White

Date: Thursday 16 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Hospitality real estate company PPHE Hotel Group has acquired the 50% interest in W29 Development from its joint venture partner, for a total consideration of $3.3m (£2.53m) plus associated acquisition costs.
The FTSE 250 firm said that as a result, it now owned 100% of the joint venture company, and the associated joint venture arrangements have been terminated.

It said the acquisition was funded from its existing cash resources.

Following completion of the acquisition, the total investment by PPHE in the project, including

$22.1m of bank debt, stood at $43m.

The board said the joint venture company owns the properties located at 538, 540 and 542 West 29th Street in New York City.

PPHE said it planned to develop its first art'otel property in the city, and would shortly be progressing to the next stage of development on the property to facilitate that.

"This acquisition enables PPHE to fully control the design and construction process of what will be our first hotel in New York," said president and chief executive officer Boris Ivesha.

"We are excited about bringing our art'otel brand to New York and will utilise our 30-year track record to ensure we create value for our shareholders and offer guests a fantastic new destination expected in 2023."

At 0921 GMT, shares in PPHE Hotel Group were down 0.52% at 1,930p.

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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 1,080.00p
Change Today -45.00p
% Change -4.00 %
52 Week High 2,140.00p
52 Week Low 805.00p
Volume 4,089
Shares Issued 42.46m
Market Cap £458.56m
RiskGrade 334

PPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
55.56% above the market average55.56% above the market average55.56% above the market average55.56% above the market average55.56% above the market average
22.86% above the sector average22.86% above the sector average22.86% above the sector average22.86% above the sector average22.86% above the sector average
Price Trend
55.25% below the market average55.25% below the market average55.25% below the market average55.25% below the market average55.25% below the market average
1.37% below the sector average1.37% below the sector average1.37% below the sector average1.37% below the sector average1.37% below the sector average
Income
39.7% below the market average39.7% below the market average39.7% below the market average39.7% below the market average39.7% below the market average
18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average
Growth
19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average19.77% below the market average
24.64% above the sector average24.64% above the sector average24.64% above the sector average24.64% above the sector average24.64% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PPH Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 19-Sep-19
Paid n/a 15-Oct-19
Amount 0.000p 17.00p

Trades for 07-Jul-2020

Time Volume / Share Price
16:29 3 @ 1,080.00p
16:29 4 @ 1,090.00p
16:29 31 @ 1,080.00p
16:29 34 @ 1,080.00p
16:29 79 @ 1,080.00p

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