PPHE Hotel Group Ltd (PPH)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

1,415.00p
   
  • Change Today:
      20.00p
  • 52 Week High: 1,425.00
  • 52 Week Low: 1,005.00
  • Currency: UK Pounds
  • Shares Issued: 42.06m
  • Volume: 63,721
  • Market Cap: £595.20m
  • RiskGrade: 183

PPHE Hotel slumps to first-half loss on Covid-19 closures

By Frank Prenesti

Date: Thursday 03 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Hotel and resorts group PPHE slumped to a first-half loss as coronavirus lockdowns hammed revenues during the second quarter as it was forced it to close properties at the height of the pandemic.
The company on Thursday reported a core loss of £3.3m compared with a profit of £45.7m as revenue plunged by two thirds to £61.9m in the six months to June 30. Reported pre-tax losses were £40.7m against a profit of £4.3m in 2019.

Occupancy fell to 34.7% compared with 76.8% a year earlier, while the average room rate fell 7.9% lower to £112. Revenue per available room, a key measure in the industry, fell 58.3% to £39. In the second quarter RevPAR fell 89.6% to £10 as total revenue was almost wiped out, crashing 89% to £10.4m.

PPHE said it reopened most of its properties in July, "albeit many continue to operate with limited services due to social distancing guidelines" and was currently operating 84% of its 45 properties across Europe.

It added that first segment to return was domestic leisure travel or travel from surrounding countries, with strong weekend demand experienced in Amsterdam and London in particular as flagship hotels hits occupancy levels of 80%-90% on weekends.

"The period of reopening for the group coincided with the leisure season and as a result, visibility on the recovery of the business travel segment is more limited. To fully capitalise on leisure demand, the group entered into an exclusive partnership with Merlin Entertainments, offering guests attractive package options," the company said.

"Due to the sudden impact that lockdowns, quarantine measures and restrictions may have, customers tend to make last minute buying decisions, typically giving preference to flexible booking conditions."

PPHE Hotel said that its first-half performance reflected a 'dramatic downturn in activity' in the second quarter, as property closures and reduced capacity led to second quarter total revenue decreasing 88.8%.

President and chief executive Boris Ivesha said: "The first half of the year has brought unprecedented challenges unlike anything the hospitality industry has seen before."

"In the face of these difficulties, the group has shown its ability to adapt to the new environment, supported by the high quality of our portfolio, our flexible owner operator model and broad customer appeal."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PPH Market Data

Currency UK Pounds
Share Price 1,415.00p
Change Today 20.00p
% Change 1.43 %
52 Week High 1,425.00
52 Week Low 1,005.00
Volume 63,721
Shares Issued 42.06m
Market Cap £595.20m
RiskGrade 183

PPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.56% below the market average80.56% below the market average80.56% below the market average80.56% below the market average80.56% below the market average
79.17% below the sector average79.17% below the sector average79.17% below the sector average79.17% below the sector average79.17% below the sector average
Price Trend
73.60% above the market average73.60% above the market average73.60% above the market average73.60% above the market average73.60% above the market average
70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average70.91% above the sector average
Income
48.55% below the market average48.55% below the market average48.55% below the market average48.55% below the market average48.55% below the market average
26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average
Growth
95.32% above the market average95.32% above the market average95.32% above the market average95.32% above the market average95.32% above the market average
92.31% above the sector average92.31% above the sector average92.31% above the sector average92.31% above the sector average92.31% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PPH Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 05-Oct-23
Paid n/a 27-Oct-23
Amount 20.00p 16.00p

Trades for 28-Mar-2024

Time Volume / Share Price
14:05 15,000 @ 1,400.00p
16:35 4,628 @ 1,415.00p
16:35 61 @ 1,415.00p
16:35 128 @ 1,415.00p
16:35 93 @ 1,415.00p

PPH Key Personnel

CFO Daniel Kos

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