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PPHE Reports Robust Q3 on London, Croatia

PPHE Hotel Group reported third-quarter revenue up 5.8% to £164.9m, led by London and Croatia, and said full-year results should come in line with market expectations. Today's share price reaction is not yet visible.

PPHE Hotel Group (LSE: PPH), which develops, owns and operates hotels and resorts, reported third-quarter revenue of £164.9m today, up 5.8%. The Board said results for the year to 31 December 2026 should be in line with market expectations.

At time of writing, shortly after the London open, no trade data for today was available, so no move in the shares can be stated. They closed at 1518p yesterday, in a range of 1508p to 1536p. That is 15.5% down year to date but 3.3% up over the month, about 7% above the 52-week closing low of 1414p on the 8th of October and about 26% below the February closing high of 2060p.

PPH.LSE

Third-quarter revenue of £164.9m compares with £155.9m a year earlier. Like-for-like revenue, which strips out the Park Plaza Wallstreet Berlin Mitte hotel’s 2025 results, rose 6.3%. The company cited strong demand across its UK hotels and a strong summer season in Croatia, as expected.

RevPAR, or revenue per available room, rose 6.6% to £149.5. Occupancy gained 310 basis points to 83.4% and the average room rate rose 2.6% to £179.4. The Netherlands was more subdued because of the higher VAT rate. Nine-month revenue was £374.2m, up 5.2% from £355.8m.

Line chart of PPHE Hotel Group daily share price closes from late July to 28 October 2026
PPHE Hotel Group’s shares closed at a 52-week low of 1,414p on the 8th of October and at 1,518p yesterday.

The company said Q3 demand has continued into the important fourth quarter, with forward bookings encouraging. Its own compilation of analyst forecasts at 28 October ranged from £474.6m to £479.8m of revenue and £140.0m to £143.4m of EBITDA for the year.

Greg Hegarty, Co-CEO, said: “We enter the important fourth quarter with good momentum, which has been further reinforced by positive forward booking trends across our meetings and events segment in the UK.”

PPHE also completed the sale of a New York development site for $33.5m. Proceeds repaid $6.75m of associated debt.

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