Park Plaza buys Berlin hotels

PPHE Hotel group has bought the freehold of two Berlin hotels it leases and manages under its Art’otel brand, for €17.5m (£15m). The group said the seller will also pay €2m towards revamping the hotels. PPHE, which also operates under the brand Park Plaza Hotels & Resorts, has a portfolio of 38 hotels worldwide including five in Berlin. It plans to launch the first Art’otel in London near Old Street in 2014.