PPHE Hotel Group (PPH) investor relations material

Executive summary

• Q1 2026 saw total revenue rise 8.0% year-over-year to £83.8 million, with like-for-like revenue up 8.2%.

• RevPAR increased 4.9% to £100.0, driven by a 4.6% higher average room rate and a slight occupancy gain.

• London portfolio led growth, while the Netherlands faced VAT-related headwinds; Germany showed RevPAR gains.

• Strategic transactions included a New York site sale and the acquisition of Park Plaza London Waterloo's freehold.

Financial highlights

• Total revenue: £83.8m (Q1 2025: £77.6m), up 8.0% year-over-year.

• Total room revenue: £57.2m, up 2.9% year-over-year.

• Occupancy: 70.0% (up 20 bps); average room rate: £142.9 (up 4.6%); RevPAR: £100.0 (up 4.9%).

• Like-for-like RevPAR: £100.5 (up 3.8%); like-for-like occupancy: 70.7% (up 40 bps).

Outlook and guidance

• Board expects full-year 2026 results in line with market expectations.

• Analyst consensus for FY 2026: revenue £472.8m–£489.0m, EBITDA £143.8m–£147.5m.

• Confidence in further revenue growth from recent investments and new hotel openings.