Annual Report and Accounts 2022

Our vision

To deliver a best-in-class performance through building further scale and depth in our real estate portfolio and growing the platform with our integrated ‘Buy, Build, Operate’ model.

What we do

We have a clear strategy to drive growth and create long‑term value. We recognise, and progressively pursue, the opportunities for our our assets to reach their full potential. We delight our guests every day, through engaging service and quality products in inviting places.

WHO WE ARE

We are an international hospitality group, with a strong prime real estate portfolio consisting of 49 properties under operation in eight countries, that transforms an asset’s potential into value and profits.

How we do it

By valuing our people, being led by an entrepreneurial Executive Leadership Team and through investing in our portfolio, opportunities with upside potential and local communities.

Investment case

1

THE BUSINESS MODEL

Integrated developer, owner and operator

– Real estate sits at the heart of our strategy

– Our “buy, build, operate” business model provides control, exposure and returns across the entire hospitality real estate value chain

– Strong preference for assets with a development and/or repositioning potential

– Diversified real estate portfolio focused on European gateway cities and select resort locations

2

FOCUS ON EQUITY VALUE

Unique approach to capital structure

– Driving NAV growth through development, property repositioning and operational excellence

– Growth driven by capital recycling through raising funds (both third party equity and debt) at asset level, without diluting PPHE shareholders

– Multiple sources of capital providing a hedge against current market fluctuations

– Maintain strong banking relationships throughout economic cycles

3

HOSPITALITY MANAGEMENT PLATFORM

All disciplines under one roof

– Scalable hospitality management platform with growth potential through managing fully-, jointly- and third party owned properties

– Exclusive partnership with Radisson Hotel Group, providing benefits of scale, access to powerful brands, connection to worldwide reservation system and loyalty programme

– All hospitality management disciplines in-house, with strong operating credentials

– Long term management agreements, providing base fee income with performance-based incentive mechanisms

4

OUR BOARD AND MANAGEMENT TEAM

Track record and shareholder alignment

– A multi-disciplined Board and a loyal executive team with a strong track record

– Entrepreneurial mindset is the cornerstone of the Company’s DNA

– Strong shareholder alignment with founder Board members holding 43% of the shares (true custodians of shareholder capital)

Highlights

In this dashboard we present the most important highlights and business developments of the 2022 reporting year.

total revenue
£ 330.1 m
Normalised profit before tax
£ 8.3 m
Adjusted EPRA EPS
50 p
Property value
£ 2.0 bn
EBITDA
£ 94.6 m
EPRA NRV per share
£ 25.17
Occupancy
60.0 %
Average room rate
£ 160.4
RevPAR
£ 96.2

our pipeline

OUR LOCATIONS
art'otel IN ZAGREB, CROATIA image
art'otel IN ZAGREB, CROATIA

Marking the Group’s debut in the Croatian capital, construction work has commenced to convert a former office building into a 115-room premium lifestyle art’otel.

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art'otel IN ROME, ITALY image
art'otel IN ROME, ITALY

Marking the Group’s entry into Italy, the historic Londra & Cargill hotel in the centre of Rome closed down in July 2022 and is currently being transformed into the Group’s first art’otel in Italy.

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art'otel LONDON HOXTON, UK image
art'otel LONDON HOXTON, UK

Our largest current construction project, expected to be completed in H1 2024.

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