The 16 per cent share price spike suggests the rooms look very inviting at PPHE Hotel Group (PPH). The group is set to substantially increase its London footprint this year with two new sites opening in the capital and a major extension to be completed. It also won a fiercely fought battle to develop a new hotel at the soon-to-be-renovated Battersea Power Station site. It's worth noting that these expansion projects were being driven through just as occupancy rates across PPHE's UK hotels flatlined, although an increase in room rates meant that UK revenues were up as a whole.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis