PPHE Hotel Group reported an 11% rise in revenue following a successful summer.
- The demand for city centre and leisure properties increased, especially in Central and Eastern Europe.
- Germany and the broader Central and Eastern Europe region saw notable revenue increases due to higher occupancy.
- Despite project delays, the group reported substantial earnings and effective cost management.
- PPHE maintained its financial predictions and continued to focus on growth and sustainability strategies.
PPHE Hotel Group has announced a significant 11% increase in its annual revenue, reaching a record €125.4 million. This growth was largely driven by heightened demand at its city centre and leisure hotels, reflecting the strong summer performance.
The company’s growth was most pronounced in Central and Eastern Europe, with Germany seeing a 14% increase and the broader CEE region experiencing a 22% rise in revenue. This surge was attributed to increased occupancy rates during the summer period.
Several of PPHE’s projects have been delayed, with some expected to open in 2025 rather than 2024. Despite these setbacks, PPHE reported a 13% rise in EBITDA, totalling €39.4 million, a reflection of strong revenue performance and disciplined cost control.
PPHE reported utility cost savings, with a marked 9% reduction in electricity expenses year-on-year. In Budapest, these costs were reduced by over 50%, highlighting effective cost-saving measures.
Despite the economic challenges and rising operational expenses, the company remains committed to enhancing its portfolio and exploring new growth opportunities in Croatia and Central and Eastern Europe.
PPHE demonstrates resilience and strategic foresight, balancing growth with effective cost management.
