PPHE Hotel Group (PPH) Q3 2026 TU earnings summary

Executive summary

• Q3 revenue rose 5.8% YoY to £164.9m; London and Croatia led performance, with robust RevPAR and occupancy growth.

• Like-for-like revenue increased 6.3% in Q3, excluding specified portfolio changes.

Financial highlights

• Q3 reported total room revenue rose 5.2% YoY to £113.6m; like-for-like room revenue increased 5.8% to £113.6m.

• 9M reported revenue increased 5.2% YoY to £374.2m and room revenue rose 3.5% to £260.8m.

• 9M like-for-like revenue increased 5.8% to £373.2m; room revenue rose 4.4% to £260.2m.

Outlook and guidance

• FY 2026 results expected to be in line with market expectations despite geopolitical volatility and fiscal headwinds.

• Analyst consensus at 28 October: FY revenue range £474.6m–£479.8m; EBITDA range £140.0m–£143.4m.

• Q3 demand continued into Q4; forward bookings and meetings-and-events demand were encouraging, particularly in the UK.