Business
Business update and completion of Hoxton financing
Business update and completion of Hoxton financing.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \n \n RNS Number : 8917O\n PPHE Hotel Group Limited\n 04 June 2020\n \n \n \n \n \n \n 4 June 2020\n \n PPHE Hotel Group Limited\n \n(\"PPHE Hotel Group\", the \"Company\" or the \"Group\")\n Business update and completion of financing for art'otel london hoxton\n \n PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is pleased to announce the following update on the current operations across the Group and art'otel london hoxton development.\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Openings in Croatia have commenced with campsites to be followed by selected hotels in the course of June;\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Germany and Hungary operations continue for several hotels albeit with subdued demand;\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Selected hotels across the Netherlands and the United Kingdom expected to reopen in June and July respectively;\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n To protect customer and colleague safety through the reopening period,\n 'Reassuring Moments by Park Plaza'\n and 'be bold, be creative, be safe by art'otel' health and safety programmes launched, as well as adoption of Radisson Hotel Group's programme and SGS accreditation, building on the Group's enhanced expertise over the last couple of months supporting key workers in London;\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Previously announced £180 million funding for development of art'otel london hoxton now completed providing further financial liquidity to the Group; and\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Written notice to proceed ,under the building contract for art'otel london hoxton, has been served on Gear Construction UK Limited.\n \n \n \n \n \n \n \n \n \n Business update\n \n \n \n \n \n Following on from our Trading Update on 15 April 2020, we have continued to closely monitor developments across all of our operating markets while ensuring our readiness to reopen our properties and welcome back guests by developing comprehensive and tailored operational processes for when various government guidelines allow and it is right for us to do so.\n \n \n \n \n \n We are now taking steps to reopen some properties but note that the situation remains dyn...