PPHE Hotel Group Limited (PPH.L) said it expects its 2024 total revenue and EBITDA to be in line with market expectations.
The company reported a like-for-like room revenue growth of 2.6% in the fourth quarter, alongside a like-for-like RevPAR growth of 2.5%. This reflects a stronger performance in the UK and an increase in occupancy during the quarter, compared to the fourth quarter of 2023, across all operating markets.
Group room revenue increased by 5.7% to 317.2 million pounds from 300.1 million pounds in 2023. It includes revenue from the recent openings of art'otel London Hoxton and art'otel Zagreb.
On a like-for-like basis, Group room revenue grew by 2.1% to 306.4 million pounds, which reflected growth in all operating markets apart from the UK where room revenue was stable. Like-for-like room revenue growth outside the UK was achieved despite the weaker Euro in 2024, which accounts for approximately 40% of revenue.
Reported RevPAR was 120.3 pounds compared to 120.7 pounds in 2023 Like-for-like RevPAR increased 1.0% to 122.0 pounds from 120.7 pounds in 2023.
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