PPHE delivers record revenue

PPHE Hotel Group has posted record interim revenue despite what its boss called “a more measured travel market backdrop”. In results for the six months to 30 June, the company reported revenue of £187.8m, up by 4.3%.  New launches have included art’otel London Hoxton, which soft opened in April 2024 and at which the company said it was eyeing “new opportunities for the approximately 5,000 square metre office space and the substantial leisure elements within the asset”. The company expects its new hotels to generate at least £25m of incremental EBITDA upon stabilisation of trading. Co-chief executive Greg Hegarty said: “We are pleased to report a solid like-for-like hotel portfolio performance for the group, with record revenues following significant increases last year, and good momentum across the portfolio against a more measured travel market backdrop.  “The second half of the year has started well and has seen a continuation of our strong operational and strategic momentum, which supports the board’s confidence in the group’s outlook.”