REG - PPHE Hotel Grp Ltd - Acquisition of Park Plaza London Waterloo freehold

PPHE HotelAnnouncement

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RNS Number : 8147U  PPHE Hotel Group Limited  02 March 2026

2 March 2026

 

PPHE HOTEL GROUP LIMITED

("PPHE Hotel Group", "PPHE" or the "Group")

 

Acquisition of Park Plaza London Waterloo freehold

 

PPHE Hotel Group, the international hospitality real estate group which
develops, owns and operates hotels and resorts, is pleased to announce that it
has entered into an agreement to repurchase the freehold interest in Park
Plaza London Waterloo (the "Property").

 

In June 2017, following the Group's development and opening of the 494-room
Park Plaza London Waterloo hotel, PPHE entered into the initial sale and
leaseback transaction whereby it sold its interest in the hotel for £161.5
million and entered into a 199-year lease subject to an initial annual rent of
£5.6 million with future annual inflation adjustments. The annual rental
obligation currently is £7.3 million, rising in line with RPI.

 

The freehold acquisition is for a total consideration of £147.9 million, of
which £136.5 million is intended to be funded by a new debt facility which
the Group expects to finalise prior to completion and which will be secured on
the freehold and long leasehold interest in the Property. The remaining
balance is to be settled from the Group's existing cash resources. The
transaction is expected to close in the coming months.

 

Greg Hegarty, Co-CEO of PPHE, commented:

 

"This transaction is another excellent illustration of PPHE's approach to
capital allocation and capital recycling. We continuously assess and examine
opportunities across the portfolio to help drive returns.

 

At the time, the initial sale and leaseback represented an attractive
opportunity to release capital from this asset to reinvest in our broader
development pipeline. Similarly, the purchase of this freehold interest is a
good use of capital, protecting the Group from future rental uplifts, whilst
increasing the freehold exposure in our portfolio. As freehold owner, we will
have increased strategic optionality on refurbishment and development, as well
as benefiting from potentially better financing terms and full asset value
capture."

 

Enquiries

 PPHE Hotel Group Limited                                      Tel: +31 (0)20 717 8600

 Daniel Kos, Chief Financial Officer & Executive Director

 Inbar Zilberman, Chief Corporate & Legal Officer

 Robert Henke, Executive Vice President Commercial Affairs

 Hudson Sandler                                                Tel: +44 (0)20 7796 4133

Email: pphe@hudsonsandler.com (mailto:pphe@hudsonsandler.com)
 Wendy Baker / India Laidlaw

 

 

Notes to Editors

 

PPHE Hotel Group (LSE: PPH) is an international hospitality real estate
company, with a £2.2 billion* portfolio, valued as at December 2025 by
Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and
long leasehold assets in Europe.

 

Through its subsidiaries, jointly controlled entities and associates it owns,
co-owns, develops, leases, operates and franchises(1) hospitality real
estate. Its portfolio includes full-service upscale, upper upscale and
lifestyle hotels in major gateway cities and regional centres, as well as
hotel, resort and campsite properties in select resort destinations. The
Group's strategy is to grow its portfolio of core upper upscale city centre
hotels, leisure and outdoor hospitality and hospitality management platform.

 

PPHE Hotel Group benefits from having an exclusive and perpetual licence from
the Radisson Hotel Group, one of the world's largest hotel groups, to develop
and operate Park Plaza® branded hotels and resorts in Europe, the Middle
East and Africa. In addition, PPHE Hotel Group wholly owns, and operates
under, the art'otel® brand and its Croatian subsidiary owns, and operates
under, the Arena Hotels & Apartments® and Arena Campsites® brands.

 

PPHE Hotel Group is a Guernsey registered company with shares listed on the
London Stock Exchange. PPHE Hotel Group also holds a controlling ownership
interest in Arena Hospitality Group ('AHG'), whose shares are listed on the
Prime market of the Zagreb Stock Exchange.

 

*In the event of a firm offer being announced for PPHE, asset valuation
reports in accordance with Rule 29 of the Code will be published in due course
and by no later than publication of the scheme document or offer document.

 

Company websites: PPHE Hotel Group (https://www.pphe.com/) | Arena Hospitality
(https://www.arenahospitalitygroup.com/) Group
(https://www.arenahospitalitygroup.com/)

 

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