Park Plaza owner ‘not distracted’ after sale talks fail Hospitality Hotel owner PPHE Group has said it is “not distracted from our core focus” after its takeover by a rival hotel operator fell apart, despite the company reporting slowing revenue growth in the last quarter. The FTSE 250 firm’s board had backed a sale to Israeli-based Fattal Hotel Group but opposition from a major shareholder [...]
FTSE 100 Live: Stocks drop as US inflation woes outweigh soaring Nvidia sales FTSE 100 Live Welcome back to the City AM FTSE 100 liveblog. The UK’s blue chip has taken a battering in early trading, as murky US inflation data overshadowed Nvidia’s sales triumph. While headline inflation fell back, the Fed’s preferred measure – the Personal Consumption Expenditures Price Index (PCE) – is still running hot at 3.7 per cent. [...]
Hotel group PPHE reports double-digit growth after strong summer Property Hospitality real estate group PPHE has reported strong growth driven by higher occupancy rates in central and eastern Europe. The LSE-listed company posted record revenue of €125.4m (£104.8m), an increase of €12.6m, or 11 per cent, year on year. The firm, which is registered in Guernsey, said that demand continued to increase for its city centre hotels [...]