Business
Business Update
Business Update.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \n \n RNS Number : 8205F\n PPHE Hotel Group Limited\n 11 March 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n 11 March 2020\n \n \n \n \n \n \n PPHE HOTEL GROUP LIMITED\n \n \n (\"PPHE\" or \"the Group\")\n \n \n \n \n \n Business Update\n \n \n \n \n \n \n \n \n PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, today announces a business update following recent COVID-19 developments. \n \n \n \n \n \n Since announcing its Annual Results on 27 February 2020, the Group has been closely monitoring the impact of COVID-19 on travel patterns. \n \n \n \n \n \n As has been widely reported in the media and by industry benchmark reports, over recent weeks there has been reduced demand for international travel which has resulted in an increase in cancellations and a slowdown in future bookings across the travel and hotel industry, including the Group's estate. \n \n \n \n \n \n Due to the fast-moving nature of the situation, it is too early to provide any meaningful estimate of quantum on the Group's earnings for the current financial year given the trajectory and duration of the virus and its impact remains highly uncertain. The necessary actions to minimise the impact on the business are being taken.\n \n \n \n \n \n PPHE has a proven 30-year track record of navigating market and economic cycles. The Group has a strong balance sheet, a well-invested estate in key gateway cities such as London and Amsterdam and an owner-operator business model which provides the flexibility to take proactive measures to respond to changing market conditions. \n \n \n \n \n \n The wellbeing of our team members and guests is a key priority and we are following all guidelines provided by the World Health Organisation and other relevant authorities to keep our guests and our team members safe. \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n PPHE Hotel Group Limited\n \n \n \n \n \n \n \n \n \n Daniel Kos \n \n \n Chief Financial Officer & Executive Director \n \n \n \n \n \n \n \n \n \n \n Robert Henke\n \n \n Executive Vice President of Commercial Affairs\n \n \n \n \n Tel: +31 (0)20 717 8600\n \n \n \n \n \n \n \n \n \n Hudson Sandler \n \n \n \n ...