Business
Completion of Acquisition of Joint Venture
Completion of Acquisition of Joint Venture.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 3554I PPHE Hotel Group Limited 20 March 2018 \n\n \n \n \n 20 March 2018\n \nPPHE Hotel Group Limited\n(\"PPHE Hotel Group\" or the \"Company\")\n \nCompletion of Acquisition of Joint Venture Interest in London\nFurther to the announcement on 24 January 2018, PPHE Hotel Group is pleased to announce that today one of its wholly owned subsidiaries has completed the acquisition from its joint venture partner of its fifty percent interest in its joint venture company, Aspirations Limited. Aspirations Limited owns the site located by Old Street, Rivington Street, Great Eastern Street and Bath Place, London EC1 on which the Company plans to develop art'otel london hoxton.\n \nEnquiries:\n\n\n\n\nPPHE Hotel Group Limited \n \n\n\n \n\n\n\n\nRobert Henke, Executive Vice President of Corporate Affairs \nand Customer Experience\n \n\n\nTel: +31 20 717 8600\n\n\n\n\nLisa Woodman, Director of Corporate Communications\n\n\nTel: +44 (0)20 7034 4800\n\n\n\n\n \n\n\n \n\n\n\n\nHudson Sandler \n \n\n\n \n\n\n\n\nWendy Baker/Sophie Lister\n\n\nTel: +44 (0)20 796 4133\n\n\n\n\n \n\n\[email protected] \n\n\n\n\n \nNotes to editors\nThe Company is a Guernsey registered company and through its subsidiaries, jointly controlled entities and associates (the \"Group\"), owns, leases, operates, franchises and develops full-service upscale, upper upscale and lifestyle hotels in major gateway cities, regional centres and select resort destinations, predominantly in Europe.\nThe majority of the Group's hotels operate under the Park Plaza® Hotels & Resorts or art'otel® brands. The Group has an exclusive licence from Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® Hotels & Resorts in Europe, the Middle East and Africa.\nThe art'otel® brand is wholly owned by the Group.\nThe Group has a controlling ownership interest (51.97% of the share capital) in Arena Hospitality Group, one of Croatia's best-known hospitality groups.\nThe Group's portfolio of owned, leased, managed and franchised hotels comprises 3...