PPHE Hotel Group (PPH.L) reported that its third quarter reported revenue increased by 5.1% to 148.2 million pounds, notably benefiting from the recent hotel openings of art'otel Zagreb and art'otel London Hoxton. Like-for-like total revenue growth was 1.8%, for the quarter. Like-for-like RevPAR was up 2.3%.
PPHE Hotel said its trading remains in line with current market expectations and the Board remains confident in the Group's fiscal 2024 outlook.
Greg Hegarty, Co-CEO, PPHE Hotel Group said: "The Group has a strong platform for continued growth, with newly opened hotels ramping up in performance, and we look forward to building on this momentum over the remainder of the financial year."
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