Pphe Hotel Group Limited · LSE:PPH
Pphe Hotel — H1 2025 Earnings Presentation
46 slides from Pphe Hotel's earnings presentation, Aug 28, 2025
Slide 1: Unlocking Growth - H1 Results 2025
Unlocking Growth H1 Results 2025 PARTNER BRANDS art’otel Rome Piazza Sallustio – Masterpiece Suite
Slide 2: PPHE overview
PPHE overview art’otel Rome Piazza Sallustio – Balcony 1 *T his presentation includes various Alternative Performance Measures (APMs), such as EPRA performance metrics and hospitality operational performance indicators. For definitions, further details, and reconciliations to measures defined under
Slide 3: Introduction
Introduction Buy, build, operate 16,000 accommodation units £2.2 billion hospitality 10,000 guest rooms & 6,000 campsite £ business model property portfolio Integrated business model has driven pitches, mobile homes & premium lodges. 51-strong, well-invested operational significant value creation. A
Slide 4: Why invest in PPHE
Why invest in PPHE Unique Capital Operating Platform Business Model Structure Control Integrated developer, owner and operator Unique approach to capital structure All disciplines under one roof • Our business model provides • Raising capital (both third-party • Scalable platform offering exposure a
Slide 5: Value creation and returns
Value creation and returns PPHE is focused on growing equity value for its shareholders We (re)develop, redesign and continuously improve assets, creating significant value along every part of the value BUY BUILD chain. Value created is released through capital Hospitality Real estate refinancing an
Slide 6: High quality assets in prime locations
High quality assets in prime locations Resilient EPRA NRV* based on external valuations 51 Number of assets in operation £2,244m Total Property value 3 £1,649m Freehold value £595m Long leasehold2 Capital cities Secondary cities Resorts and other 75.3% of property value Value Discount 6.3% of proper
Slide 7: Award-winning hospitality management platform
Award-winning hospitality management platform For any hotel – branded or unbranded – PPHE’s platform can be adapted to achieve financial returns for third party hotel owners, or PPHE equity partners through increasing top-line growth and profit maximisation. Our management platform provides control
Slide 8: Strategic & operational update
Strategic & operational update Radisson RED London 2
Slide 9: Strategic and operational update
Strategic and operational update Solid performance in challenging environment Strategic highlights Future focus and growth • 4.7% Revenue growth to £199.9m and EBITDA* of £45.5m • Fully opened premium lifestyle art’otel Rome, including • Fully launch art’otel London Hoxton development (25th (-5.7% d
Slide 10: Future contribution from pipeline
Future contribution from pipeline 2024/2025 openings Available for development Book value of landsites +£50m art’otel Zagreb Radisson RED Radisson RED art’otel art’otel Rome Undeveloped New York Park Royal Completed Belgrade Berlin Kudamm London Hoxton Piazza Sallustio assets land site London land s
Slide 11: Results & outlook
Results & outlook art’otel Zagreb 3
Slide 12: Revenue growth through occupancy driven increase in RevPAR
Revenue growth through occupancy driven increase in RevPAR* Financial KPIs Operating KPIs Total revenue £m Adjusted EPRA EPS*3 pence RevPAR*1 £ Average room rate*1 £ 2025 H1 reported 199.9 2025 H1 (LTM*) 119 2025 H1 reported 109.3 2025 H1 reported 151.0 2025 H1 LfL*2 193.3 2024 (LTM*) 125 2025 H1 Lf
Slide 13: New openings temporarily reduce strong EPRA earnings
£60.0m £101.2m £17.8m £40.0m £49.9m New openings temporarily reduce strong EPRA earnings £20.0m Per share £1.19 £0.0m Jun 2025 EBITDA* Finance Maintenance capex* reserve Other + tax Jun 2025 (LTM*) reported (LTM*) costs (net) (4%* of total revenues) Adjusted EPRA earnings* reported £70.0m £60.0m £53
Slide 14: Free cash flow allocated to minority acquisitions
Free cash flow allocated to minority acquisitions £200.0m £57.0m (£35.1m) £150.0m (£43.8m) (£8.4m) maintenance £113.2m capex* (£26.7m) expansion capex £13.6m (£10.4m) £100.0m (£14.4m) (£26.8m) interest, rent and (£0.5m) £79.6m unit holder payments (£17.0m) bank loan repayments £50.0m £0.0m Reported
Slide 15: Strong balance sheet & conservative leverage
Strong balance sheet & conservative leverage Conservative LTV*, staggered maturities lower the Group’s interest rate and liquidity risk. All at market value Gross Debt Composition and Metrics Debt Maturity Schedule (£ in millions) Net Bank Debt Leverage (LTV)* Avg. Rate 6.0% 3.4% 2.3% 3.8% n/a 4.2%
Slide 16: Current trading & outlook
Current trading & outlook Park Plaza Westminster Bridge London Park Plaza London Waterloo Park Plaza London Riverbank Park Plaza County Hall London Westminster Bridge Road development site The Group has >2,500 rooms in operation on London’s South Bank 4
Slide 17: Current trading & outlook
Current trading & outlook • Summer trading across city locations • F Y25 EBITDA* is expected to be similar were comparable to trends observed to FY24, due to short-term trading in H1 and are modestly improving as patterns and lower contributions from H2 progresses art’otel London Hoxton, as margins
Slide 18: Appendix
Appendix Radisson RED Belgrade (Serbia) 5
Slide 19: High quality assets in prime locations
High quality assets in prime locations Park Plaza London Westminster Bridge Park Plaza London Riverbank art’otel London Hoxton Park Plaza London Waterloo Park Plaza Victoria Amsterdam art’otel Amsterdam Netherlands UK Germany Radisson RED Berlin Kudamm art’otel Berlin Mitte Capital city Secondary ci
Slide 20: At a glance
At a glance We are an integrated hospitality real estate group with a £2.2 billion portfolio of primarily prime freehold and long‑leasehold assets in Europe. Value Hotels and Hotels and split by resorts by resorts by geography1 geography ownership type £1,328m United Kingdom 12 United Kingdom 45 Fre
Slide 21: Portfolio breakdown
Portfolio breakdown Portfolio Offering Brands Markets We are an integrated hospitality Hotels real estate group with a £2.2 billion portfolio of primarily prime freehold and long- Capital cities, Secondary cities, city centre city centre leasehold assets in Europe Portfolio value 51 Leisure & Outdoo
Slide 22: Extended strategic partnership with Radisson Hotel Group
Extended strategic partnership with Radisson Hotel Group Following our successful 20 year+ strategic partnership Exclusive and perpetual EMEA with Radisson Hotel Group (which is owned by Jin Licence for Park Plaza remains intact Jiang and combined represent the world’s 2nd largest hotel group), addi
Slide 23: Multi-brand, multi-segment strategy
Multi-brand, multi-segment strategy Brand positioning Brand Brand agreements Flagship locations Luxury Radisson Collection: preferential franchise Pula (Croatia) terms Upper Upscale, Premium Lifestyle art’otel: PPHE owned brand, marketed London, Amsterdam, Rome, Zagreb through Radisson Hotel Group.
Slide 24: Extensive and diverse resort portfolio in prime seaside locations
Extensive and diverse resort portfolio in prime seaside locations with easy access to main guest source markets GROWTH IN I NG CR CK OA LO TI N A U Main guest Portfolio source markets: consists of: Germany 3, 4 and 5-star Hotel Riviera 1 Arena Verdula Beach & Villas, Park Plaza Verudela Pula, PULA P
Slide 25: United Kingdom performance
United Kingdom performance Hotel operations Reported in GBP Like-for-like*1 in GBP Six months ended Six months ended Six months ended Six months ended UK 30-Jun-25 30-Jun-24 30-Jun-25 30-Jun-24 Total revenue £118.8 million £111.7 million £114.0 million £111.7 million Room revenue £90.4 million £85.5
Slide 26: The Netherlands performance
The Netherlands performance Hotel operations Reported in GBP Reported in local currency EUR1 Six months ended Six months ended Six months ended Six months ended The Netherlands 30-Jun-25 30-Jun-24 30-Jun-25 30-Jun-24 Total revenue £31.3 million £32.9 million €37.1 million €38.5 million Room revenue
Slide 27: Croatia performance
Croatia performance Hotel operations Reported in GBP Reported in local currency EUR1 Six months ended Six months ended Six months ended Six months ended Croatia 30-Jun-25 30-Jun-24 30-Jun-25 30-Jun-24 Total revenue £27.0 million £25.3 million €32.1 million €29.7 million Room revenue2 £15.5 million £
Slide 28: Germany performance
Germany performance Hotel operations Reported in GBP Reported in local currency EUR1 Six months ended Six months ended Six months ended Six months ended Germany 30-Jun-25 30-Jun-24 30-Jun-25 30-Jun-24 Total revenue £10.8 million £11.9 million €12.9 million €14.0 million Room revenue £9.1 million £10
Slide 29: Other Markets performance
Other Markets performance Hotel operations Reported in GBP Like-for-like*1 in GBP Six months ended Six months ended Six months ended Six months ended Other Markets: Austria, Hungary, Italy and Serbia 30 June 2025 30 June 2024 30 June 2025 30 June 2024 Total revenue £7.6 million £5.3 million £5.9 mil
Slide 30: Management platform
Management platform Reported in GBP (£) Six months ended 30 June 2025 Listed Development Management Arena Hospitality Company Projects Platform Group Total Management revenue – – £17.3m – £17.3m Central Services revenue – – – £6.7m £6.7m Revenues within the consolidated Group – – £(13.4)m £(6.3)m £(
Slide 31: Our ESG strategic progress
Our ESG strategic progress Strong local communities Sustainable properties le PROPERT ustainab IES Measuring contributions to local communities in donations, in-kind support and volunteering. S Environmental building certifications H1 2025: H1 2025: • In the process of obtaining the ‘BREEAM in-use’
Slide 32: Board of Directors
Board of Directors Kenneth Bradley Boris Ivesha Greg Hegarty Daniel Kos Nigel Keen Stephanie Coxon Marcia Bakker Roni Hirsch Chairman1 President & Co-CEO & Co-CEO & Executive Chief Financial Officer & Non-Executive Director & Non-Executive Director Non-Executive Director Non-Executive Director C Exe
Slide 33: Leadership team
Leadership team PPHE Hotel Group Arena Hospitality Group Boris Ivesha Greg Hegarty Daniel Kos Inbar Zilberman Reuel (“Reli”) Slonim Devansh Bakshi President & Chief Co-Chief Chief Financial Officer Chief Corporate President of the Chief Financial Officer Executive Officer Executive Officer & Executi
Slide 34: art'otel London Hoxton (UK)
Our recent openings and pipeline art’otel London Hoxton (UK) Opened April 2024 April 2024 saw the phased soft opening of this iconic new landmark hotel, located in Hoxton. 2025 will see the launch of the 5,000sqm office space and Solaya Restaurant located on the 25th floor. PPHE Hotel Group 34 H1 Re
Slide 35: art'otel Rome Piazza Sallustio (Italy)
Our recent openings and pipeline art’otel Rome Piazza Sallustio (Italy) Opened March 2025 This completely repositioned 99-bedroom luxury lifestyle property opened its doors in March 2025. PPHE Hotel Group 35 H1 Results 2025
Slide 36: art'otel Zagreb (Croatia)
Our recent openings and pipeline art’otel Zagreb (Croatia) Completed in May 2024 Marking the Group’s debut in the Croatian capital, art’otel Zagreb is a former office which we converted to a 110-room premium lifestyle hotel in the heart of the city. The hotel soft opened in October 2023 and was full
Slide 37: Radisson RED Belgrade (Serbia)
Our recent openings and pipeline Radisson RED Belgrade (Serbia) Opened February 2024 Our first Radisson RED branded property opened in the Serbian capital in February following an extensive repositioning programme. PPHE Hotel Group 37 H1 Results 2025
Slide 38: Radisson RED Berlin Kudamm (Germany)
Our recent openings and pipeline Radisson RED Berlin Kudamm (Germany) Completed in September 2024 Our first Radisson RED property in Germany soft opened in June following an extensive repositioning programme and was fully completed in September. PPHE Hotel Group 38 H1 Results 2025
Slide 39: Arena Indije Campsite (Croatia)
Our recent openings and pipeline Arena Indije Campsite (Croatia) Completed investment programme We significantly improved the offering of the Arena Indije Campsite, with several investments completed ahead of the 2025 summer season. These included the introduction of new upscale mobile homes, the cr
Slide 40: Arena Stupice Campsite (Croatia)
Our recent openings and pipeline Arena Stupice Campsite (Croatia) Elevated rating to four-star Equally, upgrades of the Arena Stupice Campsite included the addition of new upscale mobile homes, the creation of luxury pitches, new sanitary blocks, upgraded beach bar, water sports and recreation centr
Slide 41: Appendices
Appendices Direct and Country of indirect Subsidiaries included in the Group Name of company Principal activity incorporation holdings % Direct and Grandis Netherlands Holding B.V. Holding company Netherlands 100 Country of indirect Name of company Principal activity incorporation holdings % Hotel C
Slide 42: Appendices continued
Appendices continued Direct and Direct and Country of indirect Country of indirect Name of company Principal activity incorporation holdings % Name of company Principal activity incorporation holdings % Parkvondel Hotel Operator B.V. Hotel operation Netherlands 100 Società Immobiliare Alessandro De
Slide 43: Glossary
Glossary Arena Located in eight beachfront sites across Board Ken Bradley (Non-Executive Chairman), EPRA The EPRA reporting metrics analyse Campsites® the Southern coast of Istria, Croatia. They Boris Ivesha (President & Chief Executive (European performance (value, profit and cash flow) operate und
Slide 44: Glossary continued
Glossary continued Park Plaza® Upper upscale hotel brand. PPHE Hotel Radisson Created in early 2018, one of the largest Alternative Performance Measures Group is master franchisee of the Park Hotel Group hotel companies in the world. Hotel brands In order to aid stakeholders and investors in analysi
Slide 45: Glossary continued
Glossary continued EPRA Shareholders’ earnings from operational Loan-to-value Interest-bearing liabilities after deducting earnings activities adjusted to remove changes in (LTV) cash and cash equivalents as a percentage fair value of financial instruments and of the properties’ market value at the
Slide 46: Contact details
T: +31 (0)20 717 8600 E: info@pphe.com pphe.com PPHE Hotel Group HNK Amsterdam Sloterdijk, Radarweg 60, Floor 9, 1043 NT Amsterdam, The Netherlands