9 January 2025
PPHE Hotel Group Limited
("PPHE" or the "Group")
Directorate Change
PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, announces that Mr Eli Papouchado has decided to step aside from his role as Non-Executive Chairman and Director of the Board with immediate effect. Ken Bradley (currently Non-Executive Deputy Chairman) has been appointed as successor.
Mr Papouchado has taken this decision pending the outcome of an HR-related claim against him by an employee of a company outside of the PPHE Hotel Group but which also names the Group as co-respondents. Mr Papouchado strenuously refutes this claim and is contesting it.
Mr Papouchado, a founder of the Group, has held the role of Chairman since its formation in 1989. Over this period, he has played an instrumental role in both the Group's growth and development, and the expansion of the Park Plaza and art'otel brands across Europe.
Given the context of the current claim, the Group is limited in what further information it can provide at this time. A further announcement will be made as and when appropriate.
-ends-
Enquiries:
| PPHE Hotel Group Limited Daniel Kos, Chief Financial Officer & Executive Director
| Tel: +31 (0)20 717 8600 |
| H2Radnor Iain Daly / Joshua Cryer
| Tel: +44 (0) 203 897 1830 |
| Hudson Sandler Wendy Baker / Lucy Wollam | Tel: +44 (0)20 7796 4133 |
Notes to Editors
PPHE Hotel Group is an international hospitality real estate company, with a £2.2 billion portfolio, valued as at December 2023 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 franchises1 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 Group1, one of the world's largest hotel groups, to develop and operate Park Plaza®1 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 subsidiary1 owns, and operates under, the Arena Hotels & Apartments®1 and Arena Campsites®1 brands.
PPHE Hotel Group is a Guernsey1 registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group1 ('AHG'), whose shares are listed on the Prime market of the Zagreb Stock Exchange.
Company1 websites: www.pphe.com | www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com | www.artotel.com | www.radissonhotels.com | www.arenahotels.com | www.arenacampsites.com
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